NBN Co has made the decision to make 500 employees redundant, impacting middle and senior management roles.
A spokesperson confirmed NBN Co began engaging with its employees this week about changes that will affect the shape and size of the company. This is expected to take place by 30 June.
“As a result of the changes, the company expects that around 10 per cent of current roles or around 500 people will be made redundant,” a NBN Co spokesperson said. “The changes are expected to take place by 30 June this year and will affect all business units and most levels of the organisation.
“The majority of redundancies are expected to affect middle and senior management roles.”
Furthermore, the spokesperson said NBN Co was seeking to preserve and grow field-based roles associated with its national fibre upgrade program and the ongoing upgrades to its fixed wireless and satellite network.
“The company’s priority is to consult and communicate directly with employees in the first instance,” the spokesperson said.
In February, NBN Co reported its revenue during the first half of 2023 rose by 4 per cent, year-on-year, to $2.6 billion, due to the rising demand for faster broadband speeds.
In the National Broadband Network (NBN) builder’s financial results for the six months to 31 December, the number of customers on plans with wholesale download speeds of 50Mbps and above rose to 77 per cent of all customers.
In March, NBN Co and the NSW government inked a co-investment deal to support broadband services on the NBN for over 11,000 homes and businesses across regional NSW.