Australia’s largest telco Telstra is set to cut almost 500 jobs, the business told staff on Wednesday, marking the first major round of redundancies during chief executive Vicki Brady’s tenure.
The proposed 472 cuts, which come as the company looks to continue to reduce costs, come as part of its ongoing T25 strategy, and just under a year after Brady was appointed chief executive and managing director.“I can confirm we have proposed some changes to continue to reshape our business so that we remain competitive, efficient as well as effective in the way we work,” a spokesperson for Telstra confirmed to this masthead.
Telstra first outlined its target of up to $500 million in cost savings over three years in 2021, when former CEO Andy Penn A source close to the matter, who was not authorised to speak publicly, said those that end up leaving Telstra will get access to its redundancy package and range of support services.NBN outlined plans earlier this year to cut 500 jobs – around 10 per cent of its workforce – by the end of the 2023 financial year to limit costs, amid rising competition from cheaper alternatives, including Elon Musk’s Starlink.
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