Member access

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

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
12:06a SINGAPORE TELECOMMUNICATIONS : Singtel to launch the Samsung Galaxy S6 4G+ and S..
03/30 SINGAPORE AIRLINES : Legacy of Singapore's Lee Kuan Yew
03/25 SINGAPORE TELECOMMUNICATIONS : Offers a Stellar Line-Up of Programmes for Asian ..
03/05 Singtel partners Ericsson and Samsung to boost LTE speeds beyond 300 Mbps
03/04 SINGAPORE TELECOMMUNICATIONS : Singtel to enhance customer experience in trial o..
03/02 SINGAPORE TELECOMMUNICATIONS : Singtel to enhance customer experience in trial o..
02/24DJSingtel Unit to Sell S$150 Million of Fixed-Rate Notes
02/18DJU.S. Stocks Edge Lower
02/17 SINGAPORE TELECOMMUNICATIONS : Singtel TV launches three new channels
02/17 SINGAPORE TELECOMMUNICATIONS : Singtel reports robust Q3 earnings growth
Duration : Period :
Singapore Telecommunicatio Technical Analysis Chart | STEL | SG1T75931496 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes