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Telco giant Telstra is culling up to 9 per cent of its workforce, with CEO Vicki Brady announcing that up to 2800 jobs would be affected in a necessary bid to improve productivity.
On Tuesday Brady said that Telstra would make the majority of the job cuts by the end of the 2024 calendar year, and would save the company some $350 million.
Telstra boss Vicki Brady would make the majority of the job cuts by the end of the 2024 calendar year.Credit: Ben Symons
“Some of the proposed measures, which require consultation with employees and unions, would result in up to 2800 job reductions from Telstra’s direct workforce,” the company said in a statement to investors.
Brady said the cuts would help the telco stay competitive and make investments needed to support growth in data volumes across its business.
“I appreciate the uncertainty proposed changes like this can create for our people and we will support them through this change with care and transparency,” Brady said.
“As we propose specific changes, we will talk them through with our teams and union representatives first.”
Telstra has forecast a one-off restructuring cost of between $200 million and $250 million associated with the cuts.
More to come
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