Telstra has confirmed that it will cut just under 3,000 jobs in Australia, some 10 percent of its workforce.

The company's CEO Vicky Brady called it a "very hard day" for the telco, which employs around 30,000 people.

In a stock exchange filing, Brady noted that the decision to cut the jobs is part of plans to restructure its enterprise business.

"Telstra’s ongoing investment in infrastructure, technology, innovation, and service for our customers drives growth and underpins Australia’s digital economy, contributing to the prosperity of the nation," said Brady.

"This is occurring within a dynamic environment, with an evolving competitive landscape, rapid advances in technology, changing customer needs, and the ongoing inflationary pressures facing all businesses."

Brady said that the majority of the job cuts are expected to take place by the end of the calendar year.

Telstra is currently in discussions with its teams and union representatives, it added, while consultation on 377 of those roles has immediately started.

The company expects to save AU$350 million (US$233m) of its T25 cost reduction ambition by the end of FY25. Its T25 strategy seeks to generate AU$500m (US$333m) of net cost reductions.

Telstra said it anticipates one-off restructuring costs of AU$200-250 million (US$133-166m) across 2024 and 2025.

A number of telcos have announced significant job cuts in recent months, including Vodafone, Telefónica, and Ericsson, while Nokia confirmed in October that it will reduce its overall headcount by 14,000 by 2026.

Last year, UK telco BT said it would axe 55,000 jobs by the end of the decade.