Telia Company has today (December 2) confirmed that it has finalized its planned organizational restructure, resulting in 3,000 jobs being cut.

The Swedish telco, which first announced the plans back in September as part of cost reduction measures, confirmed that the plan has been carried out as expected.

Telia said the cuts will deliver annual savings of 2.6 billion Swedish crowns ($236 million).

The cuts equate to around 15 percent of its workforce.

“We are creating a Telia fit for the future. Millions of people rely on our networks and services every day, so we have many unique strengths on which to build," said Patrik Hofbauer, Telia Company president and CEO.

"We have made tough but necessary changes, and our employees’ dedication during this time has been exceptional. Through our new operating model, we can serve customers better, build performance in our teams, and grow in a way that supports investment and attractive shareholder returns.”

Telia said it expects to book a charge of SEK 1.3 billion ($118 million) in the second half of the current financial year, an improvement on the initial SEK 1.4 billion ($127m) it said in September.

Telia operates in Sweden, Finland, Norway, plus the Baltic nations of Estonia, Latvia, and Lithuania. The cuts have impacted all of these markets.