Telstra job cuts to miss NZ

New Zealand's TelstraClear says it will be making no job cuts as a consequence of stringent economy measures being taken by its parent company in Australia.

New Zealand’s TelstraClear says it will be making no job cuts as a consequence of stringent economy measures being taken by its parent company in Australia.

Telstra had confirmed an intention to cut 3000 jobs, apparently in its IT function as well as its mainstream telecommunications side. Most of these will go by the end of this month, as the company pursues a 7% productivity inprovement.

Telstra finance director John Stanhope has told a Senate estimates committee hearing this month that there will be cuts of a similar scale next year, subject to the Telstra board approving the company's business plan.

TelstraClear spokesman Mathew Bolland says the New Zealand company is already staffed "to the correct level".

Telstra previously denied claims by the Australian Labor party that it would cut its 40,000-strong workforce by 5% to 10% and slash capital spending by up to 20%.

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