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Telstra Announces 2,800 Job Cuts Amid Strategic Overhaul

The facade building of Telstra Corporation Limited

Australian telecommunications company Telstra plans to cut jobs at its enterprise unit as part of a strategic review to save 350 million Australian dollars (US$233.4 million).

On Tuesday, May 20, Telstra announced its intention to eliminate 2,800 positions, including roles within the enterprise unit. 

The company aims to streamline its product portfolio, simplify its sales and service structure, and reduce tech-services costs.

The ASX-listed company said the strategic review, initiated in February, will continue, with further updates expected in August.

Telstra also plans to reorganize internal operations by integrating its global business services into other parts of the business.

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The company expects to incur restructuring costs between A$200 million and A$250 million over its 2024 and 2025 fiscal years.

Additionally, Telstra is discontinuing inflation-linked price increases for its postpaid mobile tariffs. 

It projects fiscal 2025 underlying earnings before interest, tax, depreciation, and amortization between A$8.4 billion and A$8.7 billion.

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