Aug 18, 2017 Last Updated 2:35 PM, Aug 17, 2017

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Telstra to axe 1,400 Australian jobs

telecoms towerAusBNAusBN - Telstra (ASX:TLX) has announced it will cut 1,400 jobs within Australia as the national telecommunications giant looks to reduce costs across the business.

Jobs set to be axed span across many business units, including maintenance, construction, technician, and call centre jobs and in several states.

Telstra chief executive officer Andy Penn said: "Today, we announced a series of structural reorganisations which are very much about aligning the business to reduce complexity [and] create a leaner business."

Penn cited the increased competitiveness of the telecommunications market and the acceleration of the rollout of the National Broadband Network (NBN) as reasons for the decision to cut jobs.

In response, The Communications Workers Union said Telstra’s workers and the union felt ‘ambushed’ by the announcement.

"This is a massive job cut broadly spread across most of Telstra's business units," said Shane Murphy, divisional president of the union.

"It will have an overwhelming effect not only on our members, but their families as well as customer service across the country."

Telstra has been under pressure since posting a decreased first-half net profit of AUS$1.8 billion, and faces stiff opposition from social media giants who offer cheaper and more efficient means of communication.

@AusBNOnline

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