May 28, 2019 / 10:55 PM / 5 months ago

Australia's Telstra flags $138.4 mln increase in costs on job cuts

May 29 (Reuters) - Telstra Corporation Ltd on Wednesday revised its expected restructuring costs for financial year 2019 upward by about A$200 million ($138.42 million) because of proposed job cuts.

The telco expects to reduce its workforce by about 6,000by the end of the financial year, it said in a statement. Telstra now expects total annual restructuring costs to rise to A$800 million from around A$600 million. ($1 = 1.4449 Australian dollars) (Reporting by Aditya Soni in Bengaluru; editing by Grant McCool)

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