Telstra forecasts annual growth

Plan to cull 12,000 jobs by 2010 will continue

Telstra (ASX: TLS) is expecting a total revenue growth of around 3% a year up until 2010, according to Telstra CEO Sol Trujillo.

In a presentation to the Lehman Brothers Global TMT Conference, held in New York over may, Trujillo announced that Telstra was expecting a total revenue growth of 3-4 percent for this financial year. They are also projecting to maintain that growth up until 2010.

On the flip side, the 2005 plan to cull 12,000 jobs by 2010 will continue. By the end of last year nearly 8,000 jobs had already been lost, and Telstra plans to cut a further 4,000 in the next two years.

Trujillo also informed conference-goers that Telstra is currently the 12th largest telecommunications company in the world.

The company's revenue from fixed-line phones is in decline, whereas its revenue from mobile phones is growing by double digits.

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