Optus to cut 450 jobs

SingTel Optus, Australia’s second largest telco, plans to lay off about 200 of its 10,000-strong workforce, as well as up to 250 temporary employees, citing intense competition and cost pressures. ‘For the last two quarters we have been saying it is a very competitive market and we have to react to cost pressures,’ a spokesperson told local media. ‘We are likely to remove 450 roles across the business, a combination of permanent and contract positions as well as vacancies that won't be replaced.’ The move follows a radical shake-up of Optus’ business announced in March 2005 when it launched two projects — Project Symphony and Project X — aimed at streamlining functions and reducing costs.