Australia’s telecommunication market leader Telstra has recently announced that it will reduce the expenses of the company, provide a better experience for the customers and simplify the structure of the company by slashing 8000 jobs.
The Chief Executive of the telecommunication company informed that the company has no other choice than to incorporate the new strategy and reduce its workforce as the organization has been in a struggling position.
The Chief Executive also notified that the services and products related to telecom sector are unstable and Telstra is in the way of leading the change that the industry will witness in the future.
Telstra has announced that it will slash every one-in-four executives and employees who are in the management roles. The procedure will carry on for over a period of two or three years and it’s estimated that approximately one-fourth of the workforce of the company will be cut.
The Chief Executive of the company mentioned that the company was not looking a way to reduce the number of employees as part of its strategy, but it has been planning to improve the services provided by the telecommunication company to its users all over Australia.
The strategy is about curtailing the number of the plans of the company from eighteen hundred to twenty. Therefore, in order to achieve its primary aim, Telstra will implement the changes and reduce the added charges that the customers have to pay presently. According to the Chief Executive, the complicated designs of the plans that Telstra has been following till now have caused problems and issues that the users have faced.
He added that the company will simplify the products so that the productivity of Telstra increases significantly. The company aims to increase the profit from $1 Bn to $2.5 Bn in the cost of the job cutting.
The Chief Executive shared his grievance while sharing the news and mentioned that it’s difficult from the company’s perspective as well because Telstra considers the employees as family and they have worked hard for the success of Telstra. As per some other sources, the decision that Telstra has taken is somewhat affected by the rising competition in the telecommunication industry in Australia.