Telstra to axe 2,800 jobs; Treasurer Jim Chalmers wants a "please explain"

Telstra has revealed plans to sack up to 2,800 workers or 9 percent of its workforce under a major restructure. Telstra CEO Vicki Brady says the cuts are necessary to improve productivity and to deliver on more data demand from customers. The Communications Workers Union says it's "appalled" and was "blind-sided" by the decision. Reporter: Peter Ryan, Senior Business Correspondent Featured: Vicki Brady, Telstra chief executive; Jim Chalmers, Federal Treasurer; James Perkins, Communication Workers Union