Member access

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

SummaryChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

05/01/2012 | 07:52pm US/Eastern

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;

React to this article
2d ago SINGAPORE TELECOMMUNICATIONS LIMITED : ex-dividend day for interim dividend
11/26 SINGAPORE TELECOMMUNICATIONS : Wattcost wins the inaugural SingTel Group-Samsung..
11/17 Telkom to monetize 4,000 telecommunication towers
11/12 SINGAPORE TELECOMMUNICATIONS : SingTel posts double-digit Q2 earnings growth on ..
11/12DJSingTel Earnings Likely to Remain Flat in Fiscal 2nd Quarter -- Earnings Prev..
11/11 Globe core net income up 22% to P11.6B
11/10 SINGAPORE TELECOMMUNICATIONS : What is Singapore really up to now?
10/28 SINGAPORE TELECOMMUNICATIONS : SingTel and Microsoft to launch Cloud Operating S..
10/13 SINGAPORE TELECOMMUNICATIONS : Revolutionary Dash mobile money service wins gold..
10/07 SINGAPORE TELECOMMUNICATIONS : SingTel and FireEye partner to launch first Manag..
Duration : Period :
Singapore Telecommunicatio Technical Analysis Chart | STEL | SG1T75931496 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes