Telstra is cutting 1400 jobs

Picture: Getty Images

Telstra is about to axe 1400 positions as a cost-cutting measure.

The company confirmed the cuts to Business Insider but declined to comment further while staff were being briefed on the situation on Wednesday.

Telstra has arranged a meeting with the Communications Workers Union (CWU), reports iTnews, for 2pm Thursday to brief union officials on the move.

A CWU official has told iTnews that the terminations would affect employees from all parts of Telstra, with retail and field services expected to be especially targeted.

The customer network management team was also likely to be severely impacted by the cuts, which will almost “wipe out” the division. Staff in that team, mainly repair workers, are starting to become redundant as the old Telstra copper lines are decommissioned with the NBN coming in as a replacement.

Business Insider has contacted CWU for comment.

Last year, Telstra flagged its intention to find $1 billion in cost savings over five years and started trimming staff numbers in smaller increments in the last six months.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.