Australia’s Telstra says will cut 1,400 jobs in cost-cutting drive

Telstra has confirmed it will cut 1,400 jobs within Australia as part of a cost-cutting initiative.

Australia’s largest telecommunications and media company, Telstra Corporation Ltd, will shed about 1,400 jobs as part of a cost-cutting drive, a spokesman said on Wednesday.

“Today, we announced a series of structural reorganisations which are very much about aligning the business to reduce complexity [and] create a leaner business,” Telstra chief executive officer Andy Penn said.

It’s understood the cuts will stretch across all divisions, although insiders believe retail and field services workers will be hit the worst.

The company is informing affected employees today and is expected to meet with unions tomorrow to discuss the job losses.

Telstra is expected to announce further details this afternoon, including where the jobs are located and what sectors of the business the employees work.

Telstra has more than 32,00 full-time staff and the company has made no secret about its need to restructure its workforce.

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