Australian telecom giant Telstra to cut 8,000 jobs

Sydney (AFP) – Australia’s dominant telecommunications company Telstra Wednesday announced plans to cut 8,000 jobs as part of a new strategy to simplify the business.

The decision is part of a plan targeting Aus$2.5 billion (US$1.8 billion) in cost-cutting by 2022.

“In the future our workforce will be a smaller, knowledge-based one with a structure and way of working that is agile enough to deal with rapid change,” said chief executive Andrew Penn.