Telstra cuts 8000 jobs, page-31

Middle and executive management are being targeted to remove several layers of management. I see this as a positive, cutting fat from the tummy so to speak. I personally went through a similar restructure with Telstra 20 years ago , not long after it was privatised, and they had a huge amount of dead wood back then. I took a package that set me up for life , but i hope they target the dead wood , because back then they were voluntary redundancies and the dead wood didn't leave because of fear they wouldn't get a decent job anywhere else and they lost a lot of capable people who had no fear in leaving and taking the money and running.
But Mr Penn has given us only half the story. No mention of the potential growth for the company going forward. He only mentions simplifying products for customers at a cost. Now this may ensure retaining customers but the market wants more detail on growth and the future.Job half done at the moment.
Market has reacted negatively but i am willing to give Penn some time to get the growth message out in a clear fashion.

Christopher