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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 2018 17 187 M
EBIT 2018 2 989 M
Net income 2018 4 078 M
Debt 2018 10 215 M
Yield 2018 4,62%
P/E ratio 2018 15,87
P/E ratio 2019 15,19
EV / Sales 2018 4,32x
EV / Sales 2019 4,21x
Capitalization 64 010 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 4,24  SGD
Spread / Average Target 8,1%
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Managers
NameTitle
Sock Koong Chua Group CEO & Non-Independent Executive Director
Simon Claude Israel Chairman
Cheng Cheng Lim Group Chief Financial Officer
Choy Peng Wu Group Chief Information Officer
Chin Kok Chong Group Chief Technology Officer
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