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Telstra Planning To Cut Up To 1400 Jobs

Telstra Planning To Cut Up To 1400 Jobs

Telstra is reportedly planning to cut up to 1,400 jobs across all divisions of the company.

According to a report by The Australian, Telstra is believed to be meeting with Communication Workers Union officials today to inform them of the cuts.

The Herald Sun previously reported 1,088 full time equivalent jobs had been cut at Telstra in the six months to December 2016, leaving the company with a total of 32,551 full time employees.

In its half year financial results announced in February, Telstra reported a 14.4% drop in profit to $1.79 billion and a 6.4% drop in revenue to $12.8 billion.

Telstra also noted “restructuring costs in FY17 of $300m to $500m” in the results, covering its financial year ending June 30.

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