Labour communications spokeswoman Clare Curran has claimed that telecommunication service provider, Telecom is planning to axe about 1500 jobs soon.

It is believed that the Department of Conservation is planning to cut jobs as part of its efforts to restructure the banks in the coming week.  Ms Curran, while speaking in the country's parliament, indicated that the company will announce that it cutting 1500 jobs but said that it is a conservative figure and the exact figure could be close to the estimate.

She did not displace the source of the estimate but only said that the person was someone who has information on the matter. "Losing this number of jobs from a single employer is the biggest job loss ever in New Zealand from a single company.  It's unprecedented,"  she said.

Telecom chief executive Simon Moutter had earlier announced that the company will cut hundreds of jobs in the year and indicated that the job cuts would even cross one thousand mark.  Telecom spokesman Andrew Pirie said that the company has not decided upon an exact figure for the job cuts but did not back the estimate announced by Ms Curran in the parliament.