Automation, its apologists insist, will "free up" telecom staff for less mind-numbing work. At KPN, its most noticeable effect has been to leave hundreds of employees with no work at all. The Dutch telecom incumbent had exactly 11,248 full-time workers at the end of 2019. A year later, after months of lockdown, some 1,146 had gone. More than 300 were victims of what KPN euphemistically calls a "simplification and digitalization program." Investors are chuffed. KPN's share price rose 4% in Amsterdam this morning after cutbacks helped to safeguard profits and dividends. Although full-year sales dropped 3.9%, to about 5.3 billion ($6.4 billion), underlying earnings remained stable at some 2.3 billion ($2.8 billion) and free cash flow (FCF) was up 5.4%, to 765 million ($926 million). KPN raised its 2021 outlook, guiding for higher earnings and stable FCF. This year, it expects to pay a dividend per share of 13.6, up from 13 in 2020.