Telstra to cut 10,000 jobs

14.11.2005
Telstra Tuesday announced it will cut 10,000 jobs over five years which is part of a massive overhaul of the telco's operations.

Chief executive Sol Trujillo said Telstra currently has 52,000 full-time positions and this will be reduced by up to 8000 in the next three years and reach 10,000 over five years.

Trujillo announced the cuts as part of a strategic review which aims to cut costs and grow revenue.

He announced the four-month strategic review soon after joining the company on July 1, 2005.

He said the telco required a "new economic model" and by 2009 Telstra will overhaul its access network, PSTN or fixed line network and backbone infrastructure.

The upgrade will give its customers the latest voice, video and data services on a common Internet protocol (IP).