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Australia's Telstra says will cut 1,400 jobs in cost-cutting drive

Published 14/06/2017, 11:46 am
© Reuters.  Australia's Telstra says will cut 1,400 jobs in cost-cutting drive
TLS
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SYDNEY, June 14 (Reuters) - Australia's largest telecoms company, Telstra Corporation Ltd TLS.AX , will shed about 1,400 jobs as part of a cost cutting drive, a spokesman said on Wednesday.

The move was first reported by The Australian newspaper. The spokesman said the company would issue a statement after announcing the changes to staff and declined to give further details.

Telstra in February disappointed the market with a surprise profit drop and flagged restructuring costs between A$300 million and A$500 million (226 million to $377 million) for the 2017 financial year.

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