The privatisation of Telstra began on the 3rd of April when the government announced plans for one of the largest privatisations in the world, a proposed US26 Billion dollar sale for Telstra. Prime Minister John Howard declared that the completed Telstra sale would be a gain for "mums and dads" and "ordinary Australians" who would suppose benefit by purchasing thousands of shares. In reality, the float will produce a bonanza for big investors, finance houses and major companies. They stand to reap billions of dollars, at the direct expense of Telstra workers and house household phone users.
On the 17th of July 1998, the Howard government had a unexpected defect in the Senate last Saturday of its Bill to privatise the remainder of Telstra, the state-owned telecommunications company.
On the 21st of August 1998, despite 12 months of negotiations between Australia communications carrier Telstra and the Communication Electrical and Plumbers Union (CEPU), the company has not budged on its demands for sweeping concessions on jobs, outsourcing and working conditions.
Management has also rejected the union's claim for a 16 percent wage increase over two years. Telstra's demand included a new span of working hours to lengthen the workday and cut overtime payments, non-shift workers to work on Saturdays for normal rates, the abolition of a raft of allowances and penalties payments in return for a once-off cash payment, and reduce sick pay and call out provisions.
On the 2nd September 1998, Telstra, the semi-privatised company announced the huge amount profits thanks to the thousands of jobs being cut. The company also announced further cut in the number of jobs in Telstra.
After already cutting thousands of jobs, Telstra announced on the 6th of May 2000 that it would suspend 27 and put another 65...