Telstra (ASX:TLS) is increasing guidance on its restructuring costs for FY19 by around $200 million due to proposed job cuts.
This will result in the relevant restructuring cost being brought forward from FY20 to FY19.
They expect to have announced a reduction of approximately 6000 roles by the end of the financial year, which puts it on track to reach the previously announced net cost out target of $2.5 billion by the end of 2022.
Telstra now expects total annual restructuring costs to rise to $800 million from around $600 million.
Shares in Telstra (ASX:TLS) are trading 0.7 per cent higher at $3.58.