Telecom has confirmed that up to 1230 jobs will go by the middle of the year.
The company says it will reduce the number of full time equivalent employees from 7530 to between 6300 to 6600 by the middle of the year.
The job losses will be across the board, but with a particular focus on reducing layers of middle and senior managers, and Telecom expects to reduce its wage bill by $90 million.
Telecom indicated last month that it would cut hundreds of positions to save money and remain competitive.
It is competing against rivals like Vodafone, which has less than half the staff, and smaller internet service providers.
Announcing its half-year results in February it reported a drop in sales and revenue and said it had moved swiftly to make changes.
The company said it will incur one-off restructuring costs of up to $80 million this financial year and expects to be hit by further redundancy expenses.
Telecom is forecasting full year gross earnings of $1.4 - $1.6 billion, taking into account the costs associated with the restructuring.
On Thursday, Telecom's chief executive Simon Moutter said the cuts would make the company more competitive.
"We're transforming the company now into a true retail service provider that focuses much more on customers and selling products and services across the networks than being focused very much on the building of networks."
Mr Moutter told Checkpoint a wide range of jobs were going.
He says the job cuts began about four weeks ago and will continue through to June.
