Retail in Asia

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Australia’s Optus to slash 750 jobs in revamp

Optus, Australia’s second biggest telco, said on Wednesday it will cut 750 jobs over coming months in a major restructure of its business designed to boost profitability.

The company said the job retrenchments will come "from senior and middle management as well as operations, back office and support functions".

Optus, a subsidiary of Singapore Telecom, expects an AUD37 million (USD38.3m) one-off charge from the changes.