KPN to cut 2,000 jobs

Dutch telecom company KPN is set to cut jobs and save costs once again in the next two years, as between 1500 and 2000 jobs will be axed. The job cuts are a measure to reduce costs by more than €300 million. The turnover and earnings of KPN fell behind last year.

Thanks to large-scale investment in networks and products, KPN did manage to keep hold of its customers and market positions. The turnover in 2013 went down by 10 percent, from €9.46 billion to €8.47. The net profit went down from €314 million to €293 million, a decline of almost 7 percent. Last year, investments were made for €1.62 billion.