A Telstra takeover of Telecom could mean massive job cuts

Telstra could lay off more than half of Telecom's 7000 staff and run most of the business from Australia if it launches a takeover bid for the company, says leading Australian telecommunications analyst Paul Budde. Budde said a takeover of Telecom by Telstra "made sense" and was a reasonable explanation for talks revealed on Tuesday over the possible sale of TelstraClear to Vodafone. Several analysts have said Telstra would need to sell TelstraClear in order to stand a chance of securing [...]

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