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LATEST: Telecom has confirmed that at least two hundred jobs will be lost, as it today slashed its  stip check forecasts for the adjacent trio course of studys. Chief executive Paul Reynolds told a media briefing this afternoon that Telecom was initially tar furbish uping a simplification of 200 management jobs this financial year, as it looked to simplify its work. He said further cuts were likely to follow next year. We stop further reductions. He said the initial job cuts would make from a shape of Telecoms business units, but cuts to operative customer service would be avoided. He would not scuttlebutt on whether Telecom would seek voluntary redundancies. Telecom has 8,000 staff. Reynolds declined to feel out how many total job losses the company was targeting in the future. It would be foolhardy to have a specific number in mind. Forecasts cut Earlier today Telecom cut its forecasts for the three eld starting in July. Telecom expects earnings before interest, tax, depreciation and amortisation to be up to $100m lower next year than previously forecast. Earnings in 2011-2012 would be up to $150m less than previously forecast, and up to $205m less than forecast in 2012-2013. Telecom said its forecast for the current financial year of a net profit at the lower end of the range of $400m to $440m was unchanged.

The telcos shares plunged on the revised outlook. At  2.20pm the shares were set ashore(a) 9c, or 4 per cent, at $2.15, but they recovered rough ground throughout the afternoon to end the day down 6c, or 2.7 per cent, at $2.18. Open to offers on AAPT There has ben supposal in the market in recent weeks that Telecom was tone to offload its Australian subsidiary AAPT.  Reynolds said Telecom had managed the business very hard over the last couple of years to return it to positive pre-tax cash flow. However, he said it was not core to Telecoms business. We would consider any offer that was in the interest of shareholders. Competitive market Reynolds said there were a... If you want to get a full essay, order it on our website: Orderessay

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