Telstra Group Limited (TTRAF)
- Reuters
Telstra to axe up to 2,800 jobs as competition stiffens amid high inflation
(Reuters) -Telstra will be slashing over a tenth of its workforce by 2024 end and stopping its traditional annual inflation-linked price adjustments for mobile plans, the Australian telecom firm said on Tuesday as it grapples with stiff competition. Telstra had more than 31,000 employees as of August 2023 according to its annual report. The company said it expected to record one-off restructuring costs of A$200 million ($133.36 million) to A$250 million in fiscal 2024 and 2025.
- Insider Monkey
10 Best Long Term ASX Stocks To Invest In
In this piece, we will take a look at the ten best long term ASX stocks to invest in. If you want to skip our overview of the Australian stock market, then you can take a look at the 5 Best Long Term ASX Stocks To Invest In. Australia is one of the most prosperous […]
- Reuters
Australia's Telstra falls after cutting annual earnings view
(Reuters) -Australia's top telecom firm Telstra Group trimmed the upper end of its operating earnings forecast for fiscal 2024 on Thursday even as it reported an 11% jump in its first-half profit due to strong performance across its businesses. The company now expects underlying operating earnings for the year of A$8.2 billion ($5.32 billion) to A$8.3 billion, compared with the prior range of A$8.2 billion to A$8.4 billion, citing weak performance in its network applications and services (NAS) segment as business customers make fewer traditional voice calls. The Melbourne-based firm's first-half profit jumped 11.4% to A$964 million, helped by strong performance in its mobile, fixed line and infrastructure segments.
