Optus has denied reports it plans to slash 1000 employees from its work force.
Reports suggested the telco planned to axe jobs and cut costs in a bid to buy up expensive sports media rights with the English Premier League.
Documents not intended for public eye and sent to senior executives at the company detailed a plan to cut up to 1011 employees between April 2016 and March 2017, according to The Australian.
“As part of our FY17 plan, we have included $215m cost-out initiatives to protect profitability,” the alleged document read.
The ambitious cost-cutting plan was part of a larger bid to make up ground against its biggest competitor, Telstra, in the telco war.
In a statement sent to the ABC, an Optus spokeswoman said the company “continually reviews its operations” but “does not have any plans to make 1000 roles redundant”.
“As our business evolves we anticipate we will need to make further changes to the way we organise ourselves to help support our business goals, but we have no specific changes to share right now,” she said.
During late 2016, Optus announced it had secured the exclusive Australian broadcast rights for the English Premier League, saying it would upgrade its network to stream live games.
The Australian suggested Optus needed to sign up to 80,000 new customers to break even on its investment with the EPL.
In February, Optus reported a 9.1 per cent increase in net profit. The company currently carried 9,325 employees on its books.