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Stay abreast of what’s happening internationally with developments in corporate public affairs. Here is news that you may find useful and interesting:

Telstra slashing 8,000 jobs to cut costs, but shares still slammedND


Michael Janda, ABC News, Wednesday June 20 2018

Thousands of Telstra employees will lose their jobs as the company has announced an overhaul, but investors remain concerned by falling profits, sending the telco’s shares to a seven-year low. Telstra said its targeting a further $1 billion in cost-cutting by the 2022 financial year, taking total cost reductions to $2.5 billion. Telstra said that the lost jobs would largely be drawn from management, with one in four executive and middle management positions to go. Prime Minister Malcolm Turnbull described the announcement as ‘heartbreaking’ for the workers involved, saying he had spoken with Telstra CEO Andy Penn last night and he was confident Telstra would support its former workers in the transition to other jobs. “When one company reduces its workforce, there are other companies and new companies, including other telecommunication companies, creating new opportunities and jobs,” he said.

For the full story see: www.abc.net.au/news

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