Addressing Telstra Corporation Limited’s
(ASX:TLS) shareholders yesterday, Chief Executive David Thodey has warned significant job cuts will lay ahead as the telco prepares to expand its footprint into Asia.
Mr Thodey says its core priorities over the next five years will be generating new revenue streams in the region.
Telstra reported a 5.4 per cent increase in its full year net income and issued a total annual dividend of 28 cents last month.
In the 2012 financial year Telstra posted a net profit of $3.4 billion.
