By Antoinette Milienos For Daily Mail Australia
00:14 21 May 2024, updated 00:34 21 May 2024
Telstra will cut up to 2,800 jobs – an estimated nine per cent of its total workforce – by the end of the year.
The telcommunication giant’s CEO Vicki Brady made the shock announcement on Tuesday, claiming job cuts were necessary to ensure the company’s productivity.
‘[The reductions would] make the investments needed to support the ever-increasing growth in data volumes on its network and deliver improved connectivity for customers across the country,’ Ms Brady said.
‘I appreciate the uncertainty proposed changes like this can create for our people and we will support them through this change with care and transparency.
‘As we propose specific changes, we will talk them through with our teams and union representatives first.’
The majority of cuts will happen by the end of the calendar year and are focused on reducing non-labour and indirect labour costs.
Telstra had an estimated 31,000-strong workforce, according to its last annual report.
The company claims the staff cuts will result in a $350 million reduction in costs by 2025.
More to come