Union slams Telstra chief's $5M pay packet as 6,000 jobs axed
The union representing Telstra workers has attacked CEO Andy Penn’s “exorbitant” $5-million-dollar paycheque following a year of mass lay-offs.
The union representing Telstra workers has attacked CEO Andy Penn’s “exorbitant” $5-million-dollar paycheque following a year of mass lay-offs.
Telstra’s net profit has tumbled 39.6 per cent to $2.1 billion and earnings before tax also fell 21.7 per cent to $8 billion for FY19 ending 30 June, as it sounds a warning to brace for an even bigger financial impact in FY20.
The union has called Andy Penn's comments over the skill level of telco workers in Australia a "complete disrespect" to the 8,000 employees being let go.
Telstra has struck exclusive 5G deals with some of the "world's biggest brands", the telecommunications provider announced at CES.
Telstra is hoping to "monetise" between $5-5.5 billion worth of future income from recurring nbn payments in a bid to free up capital.