Finnish IT services group Tieto plans to cut 1,300 jobs, or 7 per cent of its staff, as it struggles to compete against global rivals like IBM .
The company's share rose 6 percent to the highest level in 13 months on the move, which Tieto said will cut annual costs by 50 million euros ($66 million).
The cuts will include 500 jobs in Finland, 300 in Sweden, and around 500 elsewhere, the company said.
Thursday, March 22, 2012
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