Telstra to slash 550 jobs, ‘reset' business
The telco announced the proposed 2 per cent reduction to its 31,000 staff this week.
Telstra said the expected 550 job losses were not in relation to the adoption of artificial intelligence. Telstra says job cuts are not AI related. NewsWire / Max Mason-Hubers Credit: News Corp Australia
'These changes are largely driven by the ongoing reset of our Telstra Enterprise business, as well as improvements to the structure and processes of other teams across our organisation, to reduce complexity, create efficiencies, and respond to changing customer needs,' a Telstra spokesperson said.
The telco also said it would work with staff who were impacted by the changes.
'If the changes go ahead, we'll work with the people in the roles that are no longer required to seek to help them find another role at Telstra,' the spokesperson said.
'If that's not possible and they end up leaving Telstra, they'll have access to our redundancy package and a range of support services.' Telstra says it will work with staff impacted by the redundancies. NewsWire / Glenn Campbell Credit: News Corp Australia
Telstra had previously announced a review of its business after disappointing revenue announcements to the market.
In May 2024, Telstra announced it would cut 2800 jobs by the end of the year as it looked to reduce its headcount by 9 per cent.
In the end, Telstra reduced its headcount by 1900 workers.
At the time, chief executive Vicki Brady said the job cuts would save the company about $350m and help improve productivity.
'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 on the ASX at the time.
In an investment note put out at the end of June, UBS is projecting Telstra could generate $23.9bn in revenue and $2.28bn in net profits for the 2025 financial year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Perth Now
23 minutes ago
- Perth Now
Where Aussies are spending their money Breathing room in household budgets, spending up in June
Australian households are finding breathing room in their budgets, with the latest data showing an increase in household spending. Data released by the Australian Bureau of Statistics (ABS) on Tuesday shows spending on furnishings and household equipment, clothing, footwear and food have driven a 0.5 per cent household spending rise for June. The data shows people are making more discretionary purchases and spending more often. The 0.5 per cent bump follows a 1 per cent rise in May and is 4.8 per cent higher than June last year. 'Goods spending rose 1.3 per cent, as households spent more on food, new vehicles, and electronics,' ABS executive Robert Ewing said. 'Meanwhile, spending on services fell by 0.5 per cent after two months of growth. 'People buying more goods drove the overall rise in household spending in June.' Looking at the three months to June, discretionary spending volumes (the actual dollar value spent) rose because of a 1.8 per cent increase in recreation and cultural activities, plus a 1.6 per cent rise in cafes and restaurants. The volume increase shows people are going out for dinner less often but spending more. Spending on food, vehicles and recreation rose across the country in June. NewsWire / Nikki Short Credit: News Corp Australia This discretionary bump is part of an overall spending volume increase of 0.7 per cent for the June quarter. 'Household spending volumes rose for the third consecutive quarter, reflecting a steady improvement in consumer confidence as price pressures eased over the past year,' Mr Ewing said. Western Australia was the only state or territory where spending fell. The Northern Territory, NSW and then Tasmania had the largest spending increases over the past year. In the NT, the spending increases were driven by health, transport and recreation outlays. In NSW, clothes, shoes, furnishings and food were the largest drivers. While people are consistently spending more on food and homewares across the country, alcohol and tobacco spend is falling, the government data shows.
Perth Now
23 minutes ago
- Perth Now
WFH push is a ‘stunt', claims opposition
Premier Jacinta Allan is 'gaslighting' Victorian residents following her pledge to legislate the right to work from home, the opposition has claimed. On Saturday, the premier announced it would introduce legislation next year to allow residents to work from home – in the private and public sector – for at least two days a week. 'Work from home works for families and it's good for the economy,' she said. 'Not everyone can work from home, but everyone can benefit. 'If you can do your job from home, we'll make it your right – because we're on your side.' Jacinta Allan is pushing to make working from home a legal right for the private and public sector. NewsWire / Nadir Kinani Credit: News Corp Australia However, the plan was criticised by opposition industrial relations minister Tim Wilson on Sky News, who argued the move was 'stunt over substance' and accused the premier of 'gaslighting' the Victorian people. 'I support fundamentally working from home arrangements as part of what works for people,' he said. 'But what the state government is doing is going stunt over substance.' He argued the legislation would not apply for all Victorians, especially those who work in retail, hospitality and on the front line. 'What is obvious to everybody is that teachers, nurses, tradies, retail workers, they're not going to get the benefit from it,' he said. 'So what we have is the Premier gaslighting Victorian employees, but in the process, putting serious risk at jobs in Victoria.' Opposition industrial relations minister Tim Wilson caused the premier of 'gaslighting' the Victorian public. NewsWire / Martin Ollman Credit: News Corp Australia On Monday, the Victorian Chamber of Commerce raised concerns over the proposed law and how it could affect productivity levels. The body's chief executive Paul Guerra said the move was 'perplexing' given the Federal Government's focus on boosting productivity levels in the Economic Reform Roundtable, and argued if the state moved away from the national system, there's a risk 'businesses will move interstate and jobs will be lost'. He said the government was doing a 'stunt over substance'. NewsWire/ David Crosling Credit: News Corp Australia The Chamber has also raised concerns that the proposal may be unconstitutional if enterprise bargaining agreements are already in place, as they operate under the federal jurisdiction. However, Ms Allan said the state government would undertake consultation with the Department of Premier and Cabinet, where they will 'focus on ensuring the law reflects the real-world experience of working from home'. 'This consultation process won't determine whether working from home should be a right,' Ms Allan said. 'We're already clear on that: it should be. We just need the appropriate laws to reflect it.' Speaking to Sky News, Mr Wilson said the proposed law was not possible for private sector workers. '(The Victorian Government) made an announcement that they were going to essentially try and guarantee an outcome,' he told Sky News. 'Since then, lawyers have said, actually, you can't do that for private sector workers. That's covered by federal law.' Ms Allan has been contacted for comment.
The Australian
39 minutes ago
- The Australian
StockTake: West Coast Silver
Stockhead's Tylah Tully takes a look at West Coast Silver (ASX:WCE), who have identified 12 high priority targets that could significantly increase silver resources at its Elizabeth Hill project in the Pilbara. Targets were found through analysis of legacy and recently collected data sets. Watch the video to learn more. This video was developed in collaboration with West Coast Silver, a Stockhead advertiser at the time of publishing. This video does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
