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Tieto to cut off 1 300 employees

Tuesday, 20 March 2012
The Finnish-Swedish IT giant Tieto plans to reduce its workforce by approximately 1,300 employees, including nearly 500 in Finland, nearly 300 in Sweden and 500 in other countries.

The cutbacks, which essentially will be implemented this year, is expected to contribute to a reduction in Tieto's annual costs by EUR 50 million until 2014.
Even one-time costs related to downsizing is expected to reach about €50 million, according to Tieto.
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