Telstra Begins Massive Redundancy Process
Telstra has today begun its redundancy process for the termination of 8,000 jobs, with enterprise sales and services staff reportedly asked to hear a proposal outlining 100 department cuts.
As per The Sydney Morning Herald, redundancies are part of Telstra’s decision to cut a quarter of its workforce, and is independent of its 2022 strategy restructure.
The proposal reportedly involves around 100 department jobs cuts plus some contractor positions across Australia and internationally.
Telstra claims the proposal is subject to a thorough consultation with employees over the coming weeks.
The ‘heart breaking’ job cuts were announced by Telstra CEO, Andy Penn, in June and follow several recent network failures, coupled with the shock resignation of network boss Mike Wright last week.
Job cuts were attributed to increased market competition and the impact of the NBN.
As previously reported, Penn has pledged to cut an additional $1 billion in costs, notching a total of $2.5 billion in savings concerning his 2022 vision.