Tieto launches its strategy for 2012–2016 with the objective of becoming the preferred partner in business and IT transformation based on its strong position in the Nordic countries.

Tieto will expand its capabilities to cover full IT lifecycle services by investing in Consulting and System Integration (CSI). Product Engineering Services (PES) will pursue global opportunities. In order to improve profitability and price competitiveness, Tieto will drive actions to simplify its operations and achieve a competitive cost structure by means of a planned net reduction of EUR 50 million in the company’s cost base, resulting in the loss of up to 1,300 jobs.

Source: Tieto