Telstra is cutting 2,800 jobs

The telecoms giant announced it would cut up to 2,800 jobs, with the majority of jobs cut by the end of 2024.

Telstra is considering widespread job cuts. The telecom company says it is considering cutting 2,800 jobs from its direct workforce. It is one of many measures designed to reset the business, simplify operations and improve productivity.

The update was shared in an ASX announcement posted at 8.20am on Tuesday, which said the majority of roles would be cut by the end of 2024.

Chief executive officer Vicki Brady said this was as a result of Telstra retooling its Enterprise business.

She defended the move as “necessary” so that the telecom giant can “make the investments necessary” to support the ever-increasing growth of data volumes on its networks and provide improved connectivity to customers across the country.

“I appreciate the uncertainty that proposed changes like this may create for our people and we will support them through this change with care and transparency,” said Ms Brady.

“If we propose specific changes, we will first discuss them with our teams and union representatives.”

Consultation on 377 of the 2,800 jobs would “begin immediately”, with roles from the areas “supporting the products and services to be left in Enterprise.

The guidance also highlighted a number of other changes that would see the Global Business Service function deployed to other parts of the business, and other actions to “reduce non-labor and indirect labor costs.”

More to come