The ASX-listed Telstra plans to cut 2800 jobs, with most going by the end of the calendar year. It has not specified where the jobs are based.
The move is part of a ‘reset’ to its Telstra Enterprise business, which has performed poorly, with earnings before interest, taxes, depreciation, and amortisation dropping 67% to A$71 million.
The Network Applications and Services (NAS) has been the major problem within the Enterprise arm. NAS provides enterprise and business customers managed network services including cloud, security, and communications services but has struggled to be competitive.
Under the reset, close to two-thirds of NAS products will be removed, it will simplify the customer sales and service model, and reduce the cost base of the Telstra Purple tech services business.
Telstra said it expected to achieve A$350m in cost reductions by the end of FY25, but added it expected one-off restructuring costs of A$200m to A$250m across this year and next.
National’s New Plymouth MP David MacLeod is standing down from two parliamentary select committees after having to correct his election return to the Electoral Commission.
In his original return, MacLeod mistakenly failed to declare 19 candidate donations.
“This error was inadvertent. I mistakenly thought the return was for 2023 only, and the 2022 donations had already been filed. Clearly, I was wrong,” he said.
MacLeod received 18 donations in 2022 worth $168,335. The error was picked up last week by the National Party as part of its annual consolidation of its accounts.
National Party leader Christopher Luxon said MacLeod had failed to meet the high standards the party expected of its MPs, and he was standing him down from the Environment Select Committee, which MacLeod had chaired, and the Finance and Expenditure Committee.