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Telstra (A2/A-) Announces Cost-Cutting; Affirms FY24 Guidance, Gives Early FY25 Guidance

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  • Telstra plans to streamline its Enterprise business and simplify operations, with up to 2,800 job cuts by end of 2024. Restructuring costs of AUD 200-250 million across FY24 and FY25, targeting AUD 350 million of their T25 cost reduction goals by FY25.
  • FY24 guidance affirmed (underlying EBITDA of AUD 8.2-8.3bn); early FY25 guidance given at AUD 8.4-8.7bn.
  • Also announced the removal of CPI-linked annual price reviews for postpaid mobile plans to enhance pricing flexibility; no CPI-linked price change in July 2024.
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  • Telstra plans to streamline its Enterprise business and simplify operations, with up to 2,800 job cuts by end of 2024. Restructuring costs of AUD 200-250 million across FY24 and FY25, targeting AUD 350 million of their T25 cost reduction goals by FY25.
  • FY24 guidance affirmed (underlying EBITDA of AUD 8.2-8.3bn); early FY25 guidance given at AUD 8.4-8.7bn.
  • Also announced the removal of CPI-linked annual price reviews for postpaid mobile plans to enhance pricing flexibility; no CPI-linked price change in July 2024.