Telstra to slash 8,000 jobs

Telstra to slash 8,000 jobs

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Telstra CEO Andrew Penn has announced 8,000 jobs will go at the telco.

Telstra CEO Andrew Penn has announced 8,000 jobs will go at the telco.

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Telstra is slashing 8,000 jobs as part of a plan to simplify its operations and reduce its cost base.

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Telstra is slashing 8,000 jobs as part of a plan to simplify its operations and reduce its cost base.

The telecommunications giant says it will cut 8,000 employees and contractors - including one in four executive and middle management roles - to "flatten the structure".

It cuts come less than a month after Telstra warned that its 2017/18 earnings will likely be at the bottom of its guidance range of $10.1 billion to $10.6 billion, blaming increasing competition in mobile and fixed broadband, and rising costs from the NBN.

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