Telecom Sector Layoff

Telstra had more than 31,000 employees as of August 2023 according to its annual report

This comes after Vodafone's November announcement of cost-saving measures worth $1.08 billion by 2026, in the wake of a deteriorating market outlook

"...... In the past also, we have seen that over time, it is possible to accommodate most of the people against natural voluntary attrition that keeps happening," Voda said downplaying likely job cuts

Some estimates peg the number of job losses in the sector, which has been passing through choppy waters after the launch of the aggressive offerings by the deep-pocketed Reliance Jio, at over 90,000

The report also revealed that most people leaving their telecom jobs are seeking opportunities outside the sector