Finland's Tieto to cut up to 770 jobs

HELSINKI Mon Oct 14, 2013 3:47am EDT

HELSINKI Oct 14 (Reuters) - Finnish IT services provider Tieto said it plans to cut as many as 770 jobs to help it save more than 50 million euros ($68 million) a year and offset a fall in technology spending in the telecoms sector.

Tieto, which competes with bigger technology services firms such as IBM and Accenture, said it plans to book about 45 million euros in restructuring costs this year. It had forecast such costs at about half of the 57 million it booked in 2012.