Telstra Laid Off Workers
Andy Penn, the chief executive of Telstra, said that it was not an easy decision for him to lay off one quarter of their workforce. He added that it was a necessary thing to do because at the end of the day it is what’s best for the shareholders as well as the entire company. It may have affected the confidence of the remaining workers thus it is recommended to have a team building in Sydney for times like this.
The announcement was made beforehand by Telstra that they are going to let go around 8000 jobs from its employee list because it is facing challenges in terms of stiff competition. They are struggling to get more customers for their mobile and internet services and they are also facing a backlash because of the NBN.
Mr Penn said during the annual investor day event of the company that he has a lot of responsibilities but letting employees go is the hardest of them all. In fact, it weighs such a heavy burden for him.
The task of axing employees is such a serious job for him because he knows that impact it will have on the people affected. It is such a dilemma because the decision has to be made in order for the company to become a success and to be able to improve and advance along with new technology.
For the financial year 2017, the company has a total of 32,293 employees under its payroll. Malcolm Turnbull, the Prime Minister, said that the decision to lay off employees is considered to be aheart-breaking one. It is a tough day for all Australian workers that are affected by the decision made by Telstra.
The union officials have already spoken up regarding the announcement and they said that it is one of the biggest job cuts that were ever recorded in the history of Australian corporate market. The president of the union, Shane Murphy, said that the announcement is the result of the privatization that has started two decades ago. It might take more than just a team building in Sydney in order to boost the morale of those who are left behind and might be wondering if they are going to be unemployed soon.