REDUNDANCIES – AUSTRALIA

Seven West axes three of its most senior executives in major shakeup

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Original article by Zoe Samios
The Australian Financial Review – Page: Online : 26-Jun-24

Seven West Media veteran Kurt Burnette is said to be among the company’s senior executives to have been retrenched as part of a cost-cutting program. Burnette joined Seven in 1990, and was most recently the media group’s chief revenue officer. Seven Melbourne’s MD Lewis Martin, who is also the head of sport, has also been made redundant, along with chief marketing officer Melissa Hopkins. Recent media reports had revealed that Seven plans to shed up to 150 jobs in response to a difficult advertising market and the looming end of a revenue-sharing deal with Facebook’s parent Meta.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, META PLATFORMS INCORPORATED, FACEBOOK

News Corp to cut sales staff, up to 80 jobs to go

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Original article by Calum Jaspan
The Age – Page: Online : 13-Jun-24

News Corp Australia is set to announce further redundancies as part of a restructuring program and its push to reduce costs by up to $65m. The media group’s sales team is expected to bear the brunt of the latest jobs cuts, with speculation that up to 80 employees will be retrenched. However, a News Corp spokesperson has dismissed claims that 40 per cent of its sales personnel will be sacked. News Corp Australia’s executive chairman Michael Miller recently downplayed speculation that more than 100 journalists will also be retrenched.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Workers sacked after no offers made for Bonza

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Original article by Robyn Ironside
The Australian – Page: 17 : 12-Jun-24

Bonza’s administrator Hall Chadwick has advised that the failed airline’s entire workforce of 323 has been retrenched, while all future flights have been cancelled in order to give customers "certainty". Hall Chadwick partner Kathleen Vouris has revealed that the firm had received no offers for Bonza by the deadline of 7 June, although she said that a deal to sell the airline remains a possibility. Vouris also indicated that Bonza employees will not be able to access the federal government’s fair entitlements guarantee scheme until Hall Chadwick decides whether to liquidate the airline.

CORPORATES
BONZA AVIATION PTY LTD, HALL CHADWICK AUSTRALIA PTY LTD

News Corp pain as executive heads roll

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 14 : 5-Jun-24

News Corp Australia’s state general managers are among the casualties of the media group’s restructuring program. Other News Corp staff who are said to have been retrenched include the general manager of print production, Marcus Hooke. Some editors of metropolitan mastheads will also take on additional responsibilities at part of the move to split the company’s publishing operations into three divisions. Meanwhile, former Sunday Telegraph editor Mick Carroll will succeed Lisa Muxworthy as editor-in-chief of the news.com.au website, while Lou Barrett will head the new national sales team.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Mobile users to face hit in Telstra cuts

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 1 & 16 : 22-May-24

Telstra has revealed plans to reduce its global workforce by up to 2,800 before the end of 2024, as part of its plan to reduce costs by $500m via its T25 strategy. The telco has advised that the job cuts and other cost reduction measures will help to reduce its expenses by $350m by the end of the 2024-25 financial year; however, Telstra has conceded that it will fall short of the T25 target. Telstra’s enterprise division is expected to bear the brunt of the job cuts. Telstra will also increase the price of some mobile phone and internet plans.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS

Network 10 to axe local jobs in global Paramount redundancies

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Original article by Calum Jaspan
The Age – Page: Online : 16-Feb-24

US media group Paramount Global has confirmed that the Ten Network will be impacted by its move to cut 800 jobs across its operations. Ten’s staff were advised on Thursday that those who will be affected by the downsizing would be informed by the end of the day. However, a local source within Paramount has indicated that the impact of the job cuts on its operations in Australia will be minimal. The restructuring has coincided with Paramount’s recent discussions regarding potential mergers.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, PARAMOUNT GLOBAL

B is for broadcast: Rowland’s ABC dig

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Original article by James Madden, Rosie Lewis
The Australian – Page: 3 : 21-Jun-23

The ABC continues to attract scrutiny over a restructuring that includes shifting its focus to a ‘digital-first’ model. The issue was raised in the federal government’s caucus meeting on Tuesday, with Communications Minister Michelle Rowland noting that the ‘B’ in ABC stands for broadcasting. A spokesman for Rowland later clarified her comments, stating that she had told caucus that the ABC has made it clear that broadcasting remains important as it prepares for a future time when most audiences with engage with it via digital channels. The ABC’s restructuring will include the loss of about 120 jobs.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT, COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY

ABC job cuts: corporation to make as many as 100 roles redundant amid major restructure

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Original article by Amanda Meade
The Guardian Australia – Page: Online : 15-Jun-23

The ABC has declined to comment on reports that it is set to announce job cuts ahead of the public broadcaster’s restructuring that takes effect on 1 July. ABC MD David Anderson recently flagged the likelihood of job losses when the three existing divisions are scrapped in favour of two divisions focused on news and content. There is speculation that up to 100 jobs will be cut in the ABC’s biggest restructuring since 2017. The restructuring is part of the ABC’s transition to a digital-first model.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Regional journalist jobs go in News Corp restructure

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: Online : 13-Apr-23

News Corp Australia has declined to comment on reports that it may downsize its regional newspaper staff as part of a push to reduce costs. Sources have claimed that more than 100 regional journalist and editors were asked to attend an unscheduled video meeting on Tuesday afternoon which was hosted by national community masthead network editor John McGourty. He is said to have told them that jobs may be cut and some mastheads could be merged, but stressed that these are only proposals at this stage. News Corporation recently revealed plans to cut five per cent of its global workforce.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Westpac closures take branch losses to 225 since last January

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Original article by Ayesha de Kretser
The Australian Financial Review – Page: Online : 16-Sep-22

Westpac’s latest round of branch closures has been criticised by the Finance Sector Union, with national secretary Julia Angrisano also describing the bank as "mean and stingy" with regard to pay negotiations. Westpac will close another 24 branches across Australia, with the loss of 103 jobs; it previously closed 24 branches in both July and August, and a total of 225 branches have now been closed since the start of 2021. The Commonwealth Bank in turn will close three branches in NSW and South Australia.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, FINANCE SECTOR UNION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA