BREAKING NEWS:After Axing 20,000 Telstra Back Slashing Jobs
After sacking close to 20,000 people since 2020 Telstra, back axing jobs with nearly 500 additional roles set to go in their struggling enterprise division.
The cuts are part of the Companies bid to slash $500m in fixed costs, the move sack tens of thousands of workers were initially set in progress by former chief executive Andy Penn, with new CEO Vicky Brady, now picking up where Penn left off, in an effort to slash costs a move that should please shareholders with the share value of Telstra climbing on the news.
This is the first round of major job cuts under chief executive Vicki Brady, with the telco tipped to slash more roles later this year due to softening demand for several of their services.
In the original cuts 10,000 contractor roles disappeared as well as 8000 of Telstra’s permanent staff.
“I can confirm we have proposed some changes to continue to reshape our business so that we remain competitive, efficient as well as effective in the way we work,” a Telstra spokesman told The Australian.
“We should make it clear that there won’t be any reductions to our Telstra consumer teams who serve our customers in store, on the phone or at home.
“More broadly across our business we’ve proposed changes to address impacts from existing legacy products and services as well as gaining efficiencies from increased digitisation, automation and new technology. These are critical for us to remain competitive and achieve our customer ambitions.
The business has not said how much II or digital automation is being adopted in an effort to cut people out of their overall fixed costs.
The staff axed will get redundancy packages and support services claim Telstra management.
The latest cuts are part of Telstra’s T25 strategy, which includes $500m in cost savings, follows the telcos T22 strategy in which it announced $2.5bn in annual cost savings and a reduction of tens of thousands of jobs.
“We have retained our ambition on the $500m net cost out target under T25,” Ms Brady said.
” We’re very much aware that … When we first set that target, inflation was at a very different level. So, it is a much bolder target now. But I’ll be perfectly honest, we did not think in this environment, that taking the foot off cost out was the right move. So, we are absolutely focused on that ambition.
“T25 is a strategy that leverages the foundation and capabilities we have built over the last few years. I am absolutely confident it is the right strategy. But naturally, it may be necessary to make adjustments to it at times to deliver customer experience improvements, new growth opportunities, and fundamentally shift the way Australians feel about us.”