Telecom company KPN is to scrap another 1,500 to 2,000 jobs over the next two years in an effort to cut costs by €300m, the company said on Tuesday.

KPN, the former state monopoly, saw a fall in turnover and operating profit in 2013, although large investments in networks and products meant it kept customer numbers and market position steady.

Turnover in 2013 fell 10% and net profit fell 7% to €293m. Investments reached €1.6bn.

The job losses come on top of a reduction in 4,650 jobs between 2011 and 2013, which has led to a structural 10% cut in employment costs, the KPN statement said. The new job losses will be realised by ‘simplifying’ the company’s organisation.

Abvakabo union spokesman Joost van Herpen said the new job cuts are a further blow to the workforce which is becoming ‘tired of reorganisations’.