Telstra retrenchments
Press release
28 October 2010
Older workers caught up in Telstra’s latest wave of redundancies are facing a double whammy, says the seniors lobby.
The warning follows Telstra’s announcement today that it is set to slash almost 1000 middle and senior management jobs across the country.
National Seniors chief executive, Michael O’Neill, said that history shows older workers are the prime target in redundancies.
“The over-50s are always the first to go in retrenchment exercises and, as official long term unemployment rates attest, the last to be rehired,” he said.
“For many of those older workers, losing their jobs this late in life and before their super balances have recovered from the global financial crisis is a double whammy,” he said.
“National Seniors is writing to Telstra to confirm the age profile of those employees earmarked for redundancy,” said O’Neill.
Many older Australians were forced to rethink or delay their retirement plans when superannuation balances plummeted in 2008.
With a quarter of a million members Australia-wide, National Seniors is the consumer lobby for the over-50s. It is the fourth largest organisation of its type in the world.
28 October 2010
Telstra retrenchments a double whammy for seniors
Older workers caught up in Telstra’s latest wave of redundancies are facing a double whammy, says the seniors lobby.
The warning follows Telstra’s announcement today that it is set to slash almost 1000 middle and senior management jobs across the country.
National Seniors chief executive, Michael O’Neill, said that history shows older workers are the prime target in redundancies.
“The over-50s are always the first to go in retrenchment exercises and, as official long term unemployment rates attest, the last to be rehired,” he said.
“For many of those older workers, losing their jobs this late in life and before their super balances have recovered from the global financial crisis is a double whammy,” he said.
“National Seniors is writing to Telstra to confirm the age profile of those employees earmarked for redundancy,” said O’Neill.
Many older Australians were forced to rethink or delay their retirement plans when superannuation balances plummeted in 2008.
Michael is available for interview.
Media contact: Sarah Saunders 0409 055 156
With a quarter of a million members Australia-wide, National Seniors is the consumer lobby for the over-50s. It is the fourth largest organisation of its type in the world.
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