88407
Australian Telecom Co. to Axe 8,000 Jobs
Australian Telecom Co. to Axe 8,000 Jobs

Australian Telecom Co. to Axe 8,000 Jobs

Australian Telecom Co. to Axe 8,000 Jobs

Australia’s dominant telecommunications company Telstra Wednesday announced plans to axe 8,000 jobs—a quarter of its workforce—as part of a drastic new strategy to cope with an increasingly competitive industry, AFP reported. The decision by the company, one of Australia’s largest employers, is part of a shake-up targeting an extra A$1 billion ($750 million) in cost-cutting by 2022, on top of A$1.5 billion previously announced. To create a leaner operation, it will also split its mobile and infrastructure divisions into separate businesses. “We are creating a new Telstra that is able to continue to lead the market,” said chief executive Andrew Penn. “In the future our workforce will be a smaller, knowledge-based one with a structure and way of working that is agile enough to deal with rapid change. This means that some roles will no longer be required, some will change and there will also be new ones created.” The cuts come less than a month after Telstra said its 2017/18 earnings will likely be at the bottom of its guidance range of A$10.1 to 10.6 billion, blaming increasing competition in mobile and fixed broadband.

Short URL : https://goo.gl/r8sTZx
  1. https://goo.gl/woCBfF
  • https://goo.gl/LacmcF
  • https://goo.gl/a7MS2E
  • https://goo.gl/CBo3x7
  • https://goo.gl/ikK1No

You can also read ...

Apple Inc won guarantees from the Trump administration that its lucrative iPhones would ship from China  without being subject to tariffs.
Big companies in the United States from Amazon.com Inc to...
Qatar Capable of Overcoming Siege Challenges
Qatar affirmed its ability to overcome the challenges of the...
Japan Inflation Inches Higher
Japan’s inflation picked up slightly in June, largely because...
Today, income inequality in the US is greatest among Asians. Asians displaced blacks as the most economically divided racial or ethnic group in the US.
The rich are getting richer and the poor are getting poorer in...
State-Actors Likely Behind Singapore Cyberattack
State-actors were likely behind Singapore’s biggest ever...
Argentina Making Fiscal Progress
Argentina is “unequivocally” making progress on its goals to...
S&P Affirms Russia’s Stable Outlook
Standard & Poor’s said in a statement on Friday that it...
Growing Inflation Looms Large Over India’s Economy
From rising crude oil prices to a poor start to rice-planting...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus