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Telecom Corporation of New Zealand Ltd To Restructure Australian Business; Announces Layoff-Reuters


Tuesday, 12 Mar 2013 07:22pm EDT 

Reuters reported that Telecom Corporation of New Zealand Ltd said on March 12, 2013 that it will restructure the Australian operations of its Gen-I unit, with around 120 jobs lost and a material one-off cost. It said Gen-I, which looks after the technical side of Telecom's internet and communications systems, would concentrate on servicing corporate customers. Telecom said it expected the workforce would fall to around 60 from the current 180 staff as a result, with the costs of the restructuring included in broader company one-off charges. 

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