Singtel-owned Optus has the scissors out – cutting 180 management jobs.
The cuts at middle and senior management level are in a bid to slash costs at the number two telco in order to “compete in a rapidly changing market,” it said today.
A further 70 vacant jobs will be left unfilled. The cuts will mainly affect sales and marketing commercial divisions. The news comes as its main rival, Telstra, said last week 300 jobs are to be shipped overseas,160 of which are set for India.
”These changes will assist in lowering operating expenditure and deliver incremental productivity gains to enable Optus to compete in a rapidly changing market and manage growth for the digital future,” Ms Ciszak said.
”There will be no direct impact to our customer experience from these changes,’ it reassured customers.
Optus’ net profit for the full year to March 31 last was $3.8 billion, down 2.1 percent, and $992 million, down 2.3 percent for Q4.
Shares of the Singapore owned giant dived 0.02c to $2.50 following the announcement today, an 0.8% fall.