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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Singapore Telecommunications Limited    STEL   SG1T75931496

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SingTel's Optus Plans To Cut 750 Jobs In Company Restructure

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05/02/2012 | 01:52am CEST

The Australian arm of Singapore Telecommunications Ltd. (SGAPY), Optus, said Wednesday it plans to cut about 750 jobs in a restructure of the business.

Optus said in a statement it expects a one-time charge of about 37 million Australian dollars (US$38.2 million) relating to the job cuts.

It said the restructure aimed to drive greater efficiencies and would see the removal of a number of areas of duplication. Most of the job cuts are expected to come from senior and middle management as well as operations, back office and support functions, Optus said.

"By creating a more efficient organization with a renewed focus on the customer, we will be able to compete more effectively," said Kevin Russell, Optus Chief Executive of Consumer Australia.

-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095; gavin.lower@dowjones.com

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Financials ( SGD)
Sales 2017 16 573 M
EBIT 2017 3 075 M
Net income 2017 3 919 M
Debt 2017 9 981 M
Yield 2017 4,51%
P/E ratio 2017 16,06
P/E ratio 2018 15,13
EV / Sales 2017 4,46x
EV / Sales 2018 4,34x
Capitalization 64 008 M
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Average target price 4,28  SGD
Spread / Average Target 9,2%
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Sock Koong Chua Group CEO & Non-Independent Executive Director
Simon Claude Israel Chairman
Cheng Cheng Lim Group Chief Financial Officer
Soo Meng Tay Group Chief Technology Officer
Choy Peng Wu Group Chief Information Officer
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