Optus, Australia’s second largest telecommunications company, is making 400 jobs redundant as it restructures to meet increasing competition.
The company had 8526 staff at the end of the last financial year.
“Optus is making a step-change to the way we work, do business and fund future investments so we can continue to thrive in our increasingly competitive and disruptive market,” a spokesman told Business Insider.
“We are making a number of changes across the organisation. Certain roles will be impacted either directly or indirectly because of these changes, including approximately 400 roles which will be made redundant.”
The 400 jobs are on top of 200 going from phasing out of the Virgin Mobile brand.
The staff cuts are part of on ongoing program.
Last year Optus cut 170 jobs as it outsourced its network operations and assurance team.
In April last year, 320 employees were terminated from multiple teams but the company said at the time that 140 new jobs would be added to offset the terminations.
Optus also cut 500 jobs in April 2016 as the telco pivoted back from a pure carrier to diversify into content.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.