Telstra To Cut 8,000 Jobs

As part of a drastic cost-cutting scheme

Telstra To Cut 8,000 Jobs

Telstra CEO Andy Penn has announced the struggling telco will be reducing 8,000 jobs in order to cut costs.

The company will increase its cost-cutting target to $2.5 billion by 2022, up from the previous target of $1 billion. 

Penn says the move will result in employee and contractor numbers being reduced by 8,000 including one in four executive and middle management roles.