TELSTRA HALT ON JOB CUTS
TELSTRA has frozen its job cutting program for six months, suspended late payment fees and disconnections, and has invited stood-down Qantas employees to apply for 1000 temporary jobs to help virusproof the economy.
The telco giant yesterday said it is also bringing forward $500 million capital expenditure from FY21 to increase network capacity during the pandemic, and help accelerate the rollout of its 5G network.
Chief executive Andy Penn said while the virus would likely have an impact on the company’s balance sheet, it was important for big business to “show leadership and contribute to the national response”.
“Like many businesses it is expected to be material and will depend on how the situation and its impact on the economy and our customers evolves,” Mr Penn said.
“While it is critical we maintain a strong position we also believe there are a range of additional initiatives we can undertake now to help support the broader economy.”
Telstra said small businesses and consumers unable to pay their bills would not be charged late fees or disconnected until at least the end of April, at which point the company would review further.
These measures are in addition to unlimited data allowances on fixed broadband and extra mobile data for Telstra’s consumer and small business customers, as well as extra paid leave for Telstra employees and casuals.
The 1000 temporary staff hires will help the company handle a spike in call centre volumes.
Telstra has invited Qantas workers to apply.