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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; [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
SINGAPORE TELECOMMUNICATIONS LIMITED -0.32% 3.16 End-of-day quote.-11.73%
TELSTRA CORPORATION LTD -1.47% 2.68 End-of-day quote.-23.69%
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Financials ( SGD)
Sales 2019 17 742 M
EBIT 2019 2 801 M
Net income 2019 3 555 M
Debt 2019 9 744 M
Yield 2019 5,69%
P/E ratio 2019 14,29
P/E ratio 2020 13,36
EV / Sales 2019 3,47x
EV / Sales 2020 3,38x
Capitalization 51 828 M
Chart SINGAPORE TELECOMMUNICATIO
Duration : Period :
Singapore Telecommunicatio Technical Analysis Chart | STEL | SG1T75931496 | 4-Traders
Technical analysis trends SINGAPORE TELECOMMUNICATIO
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 4,00  SGD
Spread / Average Target 27%
EPS Revisions
Managers
NameTitle
Sock Koong Chua Group CEO & Non-Independent Executive Director
Simon Claude Israel Chairman
Cheng Cheng Lim Group Chief Financial Officer
Chin Kok Chong Group Chief Technology Officer
Peter Mason Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SINGAPORE TELECOMMUNICATIONS LIMITED-11.73%38 187
VERIZON COMMUNICATIONS-8.37%198 703
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DEUTSCHE TELEKOM-9.53%74 579
SAUDI TELECOM COMPANY SJSC--.--%46 079
TELEFONICA-9.05%44 870