Telecoms group Telstra is set to fast-track restructuring efforts six months earlier than originally planned. The company issued fresh guidance on its T22 program for downsizing the business.
Telstra said it will push through with 6,000 of the 9,500 planned job cuts ahead of schedule, incurring $200m in costs as a result of the layoffs. It is aiming to complete about 75% of its direct workforce role reductions at the close of financial year 2019, CEO Andy Penn said in the guidance.
The company is also streamlining operations and upgrading legacy IT infrastructure with newer systems. The retrenchment costs include $500m in write-offs for outdated software and hardware. Among the enterprise IT platforms expected to be ov…
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