...... Jamie Freed October 20, 2008 IN ANOTHER sign of the...

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... Jamie Freed
October 20, 2008

IN ANOTHER sign of the deteriorating economy, Optus is poised to slash hundreds of jobs as part of a restructure.

A large number of the job cuts - likely to be announced this week - are expected to be at the company's main office at North Ryde. About 400 staff in the network division are thought to be affected.

The Singapore-controlled telecommunications provider, which has 6000 employees in Australia, is also understood to have let go a number of senior executives as it seeks to counter the domestic downturn.