Telstra To Lay Off 2,800 Employees

Australia's Telstra, a major telecom company, is facing a significant workforce reduction. The company announced plans to cut up to 2,800 jobs, or 9 per cent of its employees, in response to rapid technological advancements and changing industry dynamics.

This move aims to streamline operations, reduce costs (around US$230 million in savings), and better handle inflation. 

CEO Vicki Brady explained that the telecom industry is undergoing a major shift with new competitors, evolving customer needs, and the rise of artificial intelligence (AI) making traditional services obsolete. 

Telstra, with a workforce of 30,000, has already begun implementing AI tools in customer service, reflecting this industry transformation.