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Singapore Telecommunications Limited (ASX:SGT) has unveiled a major restructure of its Australia arm Optus that will cost $37 million.
Australia's second-biggest telco will cut 750 jobs within months in a move geared to increasing profitability and driving efficiency.
The job losses are expected to go from senior and middle management as well as operations, back office and support functions.
Optus says by moving to a more streamlines and centralised structure it expects to remove a number of areas of duplication.
SingTel posted a net profit of $1.4 billion in the first half of the 2012 financial year.
