Optus to axe 750 jobs as part of major restructure

Optus will axe 750 jobs as part of a major restructure.

The Singapore Government-owned telco says the cuts are aimed at delivering greater efficiency, citing competitive trading conditions.

“Optus is proposing to make approximately 750 roles redundant over the coming months. The majority of these roles will come from senior and middle management as well as operations, back office and support functions,” the company said in a statement.

“The restructure will also see Optus rationalise a number of operational, back office and administrative functions to drive greater efficiencies in response to the increasingly competitive trading environment,” the company said.

“By moving to a more streamlined and centralised structure, Optus will remove a number of areas of duplication.”

Kevin Russell CEO of the telco’s Australian consumer division said Optus had to have a sustainable cost structure.

“The competitive environment requires Optus to have a sustainable cost structure to remain competitive,” Russell said in a statement.

A spokesperson said they expected about two-thirds of the job cuts to fall in Sydney and NSW, with the remainder in the ACT, Queensland, South Australia and Victoria.