Australias largest telecommunications provider, Telstra, announced Tuesday that 2,800 jobs9 percent of the workforcewould be slashed by the end of the year.
The first to go, in July, will be 377 workers in the companys enterprise division, where 472 positions were already slashed last year, but the restructuring operation will destroy jobs throughout the organisation.
The sackings, along with other cost reduction measures, are expected to cut $350 million in yearly expenditure. This falls short of the companys T25 restructuring target of $500 million in annual cost savings, leaving open the possibility of further cuts in the first half of next year.
Read the full article at: https://www.wsws.org/en/articles/2024/05/23/zkqd-m23.html