Sydney, Australia, May 21 (EFE).- Telecommunications company Telstra, the largest in Australia, announced Tuesday it plans to cut almost 10 percent of its workforce by the end of 2024, with a view to simplifying operations and improving productivity.

Telstra CEO Vicki Brady said in a statement that about 2,800 jobs would be cut through the measure, which will give way to the immediate consultation of 377 jobs and allow the company to continue investing in increasing data volumes and connectivity.

The company said the restructuring, carried out amid "a changing competitive landscape, rapid technological advances, changes in customer needs and continued inflationary pressures" would cost it up to AUD250 million (about $166 million) between this and next year.

The job cuts, along with other measures, would allow the company to save about AUD350 million by the end of 2025, according to the statement.

Telstra said it expects its underlying profitability - which measures its income before deducting interest, taxes, depreciation and amortization - to reach at least AUD8.4 billion next year.EFE

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