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TeliaSonera unveils 2 bln SEK cost cuts as Q3 undershoots
STOCKHOLM Oct 17 (Reuters) - Nordic and emerging markets telecoms operator TeliaSonera unveiled a 2 billion crown ($301.17 million) cost cutting plan on Wednesday as it reported third-quarter core profit below expectations.
The company's earnings before interest, tax, depreciation and amortisation (EBITDA), excluding non-recurring items, were 9.3 billion crowns versus the average forecast of 9.5 billion in a Reuters poll and last year's 9.9 billion.
Telia said the cost reduction measures would include cutting around 2,000 employees or 7 percent of its staff over the next two years.
The company stuck by its outlook for the full year. ($1 = 6.6408 Swedish crowns) (Reporting by Simon Johnson)
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