You picked it, but I agree cost cutting is a must. Imagine having so much fat that you can cut 8,000 jobs !
Mind you, I am also sorry to see that many Australian job losses, these will be hard to replace.
I'm conflicted and undecided as to whether Telstra would have performed better without past government interference and enforced regulations such as NBN as well as without a heavily unionised workforce. On the one hand the answer would clearly be Yes. But on the other, the strategy and expansion into Asia was an abject failure.
Anyway, at least Telstra are now taking much needed action. Pain now for (hopefully) progress later.
GLTH
Why is TLS on the way up, page-33
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