Telstra is gonna sack 9% of its workforce - 2800 people - by the end of the year. According to an ASX statement, there will be a "reset of Telstra Enterprise" to "sharpen its focus" and save up to $350m, but it will cost $200m-$250m across the next two financial years to do this restructure, part of which is due to an "industry-leading redundancy package". The Communications Workers Union rightfully says that "you can't slash thousands of jobs without seriously impacting the delivery of services across the country" and that "this has completely come out of the blue". Meanwhile, Telstra still expects an FY24 EBITDA of over $8b. I know a decent chuck of diligent, honest, intelligent (and probably sexy, but I can't be sure I haven't met them all) Sizzle subscribers work for Telstra, so I hope you're all doing okay.
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