Telenor Mobil to Lay Off

FORNEBU, Norway -- As a result of Telenor's cost- and efficiency initiatives, Telenor Mobil will be reducing the workforce by 216. Employees were informed of the reduction in the workforce on Tuesday morning. Those affected will be offered redundancy packages in the course of the week. Telenor Mobil currently has approx. 1600 employees. The workforce adjustments are a result of Telenor's corporate cost cutting and efficiency project, Delta 4, and is related to the economic situation and the market forces affecting Telenor Mobil. "It is painful to have to revert to reducing the workforce in a company with so many highly qualified employees who have contributed to Telenor Mobil's success. However, when the trend of revenue growth ceases, expenditure must be reduced correspondingly. We have undergone immense cost cutting initiatives in all other areas of expenditure, however, we are unfortunately unable to avoid reducing the number of employees as well," said Telenor Mobil's Managing Director, Ingvild Myhre. Cost cutting measures are simultaneously being undertaken elsewhere in the Telenor Group. Excluding the workforce reductions in Telenor Mobil, Telenor has announced approximately 1000 excess positions, mainly within Customer and Directory Enquiry Services and Telenor Business Solutions' Operational Services division. Surplus employees will be offered assistance to find new positions either within or outside Telenor, and may be offered redundancy packages. Telenor Mobil SA