Australia's Telstra to cut 1,100 jobs
CANBERRA (Reuters) - Australia's largest phone company, Telstra Corp Ltd (TLS.AX: Quote), said on Wednesday it will cut 1,100 jobs, or around 3.6 percent of its Australian workforce, by mid-2014 as part of a company-wide restructuring.
Telstra said the jobs would be cut from its operations division, which handles network construction and design, and some customer services, but would not affect the company's Network Applications and Services division. The latest cuts follow the announcement of 170 job losses in July due to a shift in backoffice operations to India.
Telstra Chief Operations Officer Brendon Riley said it was reducing headcount to adapt to changing technologies and industry restructuring.
The company last month posted a 13 percent rise in full-year net profit, underpinned by growth in its mobile network business, with revenue up 1.9 percent to A$26 billion ($24.42 billion).
(Reporting by James Grubel)
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