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Telstra's job and cost cuts threaten its plan
(MENAFN) Telstra's plan to cut costs and set itself for a new and tougher marketplace has drawn a muted response from analysts and disappointment from investors.
The company has announced on Wednesday it will cut 8,000 jobs, sell assets and hive off its fixed network infrastructure as a new business in an attempt to slash costs and improve performance.
However, analysts said a plan for Telstra was overdue but cautioned the benefits of its CEO's strategy would take years to materialize, leaving uncertainty that was unnerving for investors.
They were also concerned about Telstra's dividend policy after the company only reaffirmed a total dividend of 22 cents a share for this year.
The company has announced on Wednesday it will cut 8,000 jobs, sell assets and hive off its fixed network infrastructure as a new business in an attempt to slash costs and improve performance.
However, analysts said a plan for Telstra was overdue but cautioned the benefits of its CEO's strategy would take years to materialize, leaving uncertainty that was unnerving for investors.
They were also concerned about Telstra's dividend policy after the company only reaffirmed a total dividend of 22 cents a share for this year.
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