Telecom to axe hundreds of jobs

Friday 22 Feb 2013 11:05 a.m.

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Telecom has announced “significant job cuts”, believed to number in the hundreds.

Chief executive Simon Moutter made the announcement this morning.

He said the reason for the cuts is Telecom’s higher operating costs than rivals Vodafone.

The cuts are believed to be coming from all areas of the business, with an announcement on these job losses to be made in May.

The company this morning announced a 3.7 percent lift in first-half underlying earnings, largely attributed to its mobile business, though its mobile base fell 15 percent as of December 31.

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