mattwnz: It was on the news, so I presume factural. But the problem is that the staffing has likely remained the same prior to the demerging, hence they are just adjusting the staff to the new businesses size. But they have over 2500 earning over 100k, and 10 people earning over 1 million, so they pay out quite a lot in wages.
I don't follow.
They had 100 staff, they cut the company in half, 50 go with each company, but now they have to many people in one half?
Even if we assume that 10 went with one half and 90 stayed with the other, wouldn't that then mean that the half with 10 staff will be needing to pick up some staff anyway?
Seems like this 'demerging' thing is just bunk.... or did they make two companies.... but with Chorus they only moved over the staff it actually needed, leaving Telecom to sink?