Optus workers are the latest to find themselves in the firing line as the telco reviews its operations.
Optus on Tuesday confirmed it would cut its 9,500-strong workforce as management casts an eye over the telco's performance.
Despite speculation that 700 jobs could be axed, an Optus spokesperson said no decision had been made on how many staff would be made redundant.
"Over the past few months, we have been undertaking a review of our business aimed at creating a stronger organisation with a clearer focus on the customer," Optus said in a statement.
"Redundancies are likely to result from this review.
"However we are still working through the detail and are not in a position to comment on how many people are likely to be affected at this stage."
Optus said media reports that up to 700 jobs would be axed were pure speculation and based on a rumour published online on Monday.
News of the planned job cuts come after Optus's parent company Singapore Telecommunications announced in early March a corporate restructure that would divided the company along operational, rather than geographical lines.
The restructure, which separated SingTel into consumer, digital and ICT divisions, would come into effect on April 1, 2012.
Thousands of Australian workers across various sectors have recently received the grim news their jobs are under threat.
In February, ANZ Banking Group said 1,000 permanent jobs would be axed from its 24,000 workforce by September.
And in early March Westpac said it was sending 119 technology jobs offshore, with affected staff to be offered retraining for redeployment in other parts of the bank if possible.
In manufacturing, OneSteel is ceasing operations at its Kembla Grange steel plant from May 2012. The plant employs 56 people.
BlueScope shut its number six blast furnace at Port Kembla, which resulted in 800 job losses.
National flag carrier Qantas has also announced 500 jobs would go as the airline tried to cut costs.
SingTel shares closed two cents lower at $2.32.
