Telstra Fired 28,00 Employees, tenth of its Workforce, cited "Ongoing Inflationary pressures"
In response to this decision, The Dissent Paul Budde told Reporters, "It's not just a matter of continuing to fine-tune or readjust — this is a massive change." In the Statement CEO Vicky cited “ongoing inflationary pressures” and “competitive landscape” which forced them to took this big historic step.
Telstra 2,800 Employees : Fired tenth of its Workforce
Australian Telecom Company Telstra said in its statement on Tuesday that it is going through very tough competition. That's why Telstra has decided to fire more than tenth of its Workforce by the end of 2024. According to the annual reports of August 2023, Tesla had approximately 31,000 employees.
Cited "Ongoing Inflationary Pressure" and "Competitive Landscapes"
In the Statement CEO Vicky cited “ongoing inflationary pressures” and “competitive landscape” which forced them to took this big historic step. The Australia's largest telecom company will cut 2,800 jobs from its enterprise staff, as it moves to streamline operations and cut costs as part of a review of its network applications and services business
337 Major Cut offs will be from Consultancy
CEO Vicki Brady also highlighted that most of the job Redundancies will be from B2B Telstra Enterprise division, with 337 roles in Consultancy for Redundancies. Vicki marked, this step is part of a further transition of the company's AI technology.
"Artificial Intelligence will be a Hot Topic"
The Company also declared to stop its traditional annual inflation-linked price adjustment for mobile plans.
The Company Spotlighted "Artificial intelligence will be a hot topic because it can streamline the company, it can streamline customer services."
"So they will invest more in technology rather than in people."
"Our pricing review continues, as you would expect,"
"Along with this, the company will stop the service of traditional Annual Inflation-linked Prince Adjustment in mobile plans .We will not be making a CPI-linked annual price change to postpaid mobile prices in July 2024," CEO Vicki Brady said. Our pricing review continues, as you would expect, across all of our products."
As Reported by the ABC News
"Telstra has revealed plans to sack up to 2,800 workers as part of its latest cost-cutting measures. The telco said the majority of the job cuts would happen by the end of this year." as Reported by ABC news.
The Decision of Cut off was Critisized by Many Analyst
Brady's statement comes as the National Assistant Secretary of the Communications Workers Union criticised Telstra Group Limited for not warning its employees before the announcement.
The Telstra in its Recent Declaration Marked that,
"this change with care and transparency...." CEO Vicki Brady marked
"I appreciate the uncertainty proposed changes like this can create for our people and we will support them through this change with care and transparency. As we propose specific changes, we will talk them through with our teams and union representatives first.
"we may well partner with other player..."
As we look to streamline our network application and services portfolio, as part of that work, we may well partner with other players in the market to be able to provide those services," the Telstra CEO told reporters.
"This is occurring within a dynamic environment..."
"This is occurring within a dynamic environment, with an evolving competitive landscape, rapid advances in technology, changing customer needs, and the ongoing inflationary pressures facing all businesses."
"update our employees around mid-July...."
"We will continue to work through the detail as fast as we can on the remaining proposed changes and I anticipate being able to update our employees around mid-July," Brady told reporters at a press conference.
Ongoing work on reduction of Cost
"As part of our ongoing work to reduce our costs, we will also focus on other cost categories including non-labour-related costs."
No negative Effect on Retail Customer service
We may transition customers to other players that can provide some of those more specialised services. He also Marked that the Sudden Cut off program will not negatively affect retail customer service.
Vicki Brady, in a short Statement said...
TLS (Telstra) suggests this gives them more flexibility on pricing review (e.g. Vodafone put through higher than CPI linked price increases in late Mar/early April this year)," she wrote in a short note reacting to Telstra's announcement.
Strong Voice of Dissent: Why they Oppose This Proposal
James Perkins on this Matter
"We were absolutely unaware and we've been blindsided by this decision. We cannot possibly see how Telstra can go on maintaining the level of service it needs to satisfy its customers' expectations when you've just cut another 9 per cent of your workforce."
Paul Budde expressed his displeasure over this said....
Business Consultant and Telecommunications Manager Paul Budde also expressed his displeasure over this and said that cut off of jobs from Telstra is not a surprise, but on such a large scale – it is a matter of surprises.
Paul Budde Said ABC news,
"It's not just a matter of continuing to fine-tune or readjust — this is a massive change,".
In a Twitter Post he marked,
"Telstra To Slash Up To 2,800 Jobs Amid Financial Pressures International Business Times AU. Expressing his viewpoint, telecommunications analyst Paul Budde said, "Revenue is flat — 1 per cent up, 1 per cent down on an annual basis — at"
Barrenjoey analysts Eric Choi and Annie Zhu in favour of this said...
"delaying price increases in FY25..."
"Investor feedback had suggested TLS could have the ability to push prices up by more than CPI – we therefore theorise TLS could be delaying price increases in FY25 (but eventually announce increase greater than CPI)," they wrote.
Brief Overview of Telstra : A Glance at its Vibrant History
Australia's Leading Company
Telstar Limited Group is an Australian telecommunications company that builds and operates telecommunications networks in Australia and provides related products and services. Telstra Group Limited is Australia's leading company in terms of market share.
A Long Bright History of 49 Years
Telstra was established on 1 July 1975, from 1979 to 1989 it was renamed as Australian Telecommunications Commission, then for a further two years it was named Australian Telecommunications Corporation. But ultimately the name of the company was Telstra Group Limited since 1993. Until 2006, Telstra was a state-owned company but after that it became a completely private company.
The Top Officials of Telstra
The company's headquarters is in Melbourne, Australia. The Chairman of Telstar is John Mullen, Chief Financial Officer is Michael Ackland, and CEO is Vicki Brady.
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