mo4ch:>Australia's Telstra to slash 8,000 jobs in cost-cutting drive
Australia's Telstra to slash 8,000 jobs in cost-cutting drive
Australia's Telstra to slash 8,000 jobs in cost-cutting drive
20 June 2018
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Telstra has come under increasing pressure to address its falling share price
Telstra, Australia's biggest telecoms company, plans to cut 8,000 jobs - a quarter of its workforce - in a bid to slash costs.The struggling firm plans to axe one in four executive and management positions over the next three to four years. It is the latest in a string of job cuts made by Telstra in recent years. The company, which also plans to sell assets worth A$2bn (£1.1bn, $1.5bn) by 2020, warned that profits would fall for the year to June 2019.Shares in Telstra closed 4.8% lower at $2.77 in Sydney on Wednesday.
As competition in Australia's telecoms sector intensifies, Telstra has been under increasing pressure to improve its mobile and broadband offerings and arrest declines in its shares.The 10…
Australia's Telstra to slash 8,000 jobs in cost-cutting drive
20 June 2018
Image copyright
Getty Images
Image caption
Telstra has come under increasing pressure to address its falling share price
Telstra, Australia's biggest telecoms company, plans to cut 8,000 jobs - a quarter of its workforce - in a bid to slash costs.The struggling firm plans to axe one in four executive and management positions over the next three to four years. It is the latest in a string of job cuts made by Telstra in recent years. The company, which also plans to sell assets worth A$2bn (£1.1bn, $1.5bn) by 2020, warned that profits would fall for the year to June 2019.Shares in Telstra closed 4.8% lower at $2.77 in Sydney on Wednesday.
As competition in Australia's telecoms sector intensifies, Telstra has been under increasing pressure to improve its mobile and broadband offerings and arrest declines in its shares.The 10…