Telkom's retrenchment process will cost the company R1.1 billion, the Sunday Times reports.
Telkom is offering employees voluntary retrenchment packages and voluntary early retirement packages, as it looks to cut about 4 400 jobs.
On Friday, Trade union Solidarity said that Telkom had accepted a total of 2 393 employees' applications for voluntary severance packages.
The Sunday newspaper reports, Telkom has got around the unions in its bid to cut staff by offering a "sweet" deal to employees.
According to Telkom the severance offer includes pro rata share payouts and five months' notice pay, two weeks' pay for each of the first 10 years of service, student loans and phone debts will also be written off.
Staff members who accept the severance deal will also receive R60 000 for further training or a lump sum of R40 000, which is taxable, and a telephone rebate.
The newspaper cites spokesperson Jacqui O'Sullivan, "The telephone rebate is something exclusively available to current employees who have opted for a voluntary retirement package. They can choose to maintain the rebate on their landline or they can give up the rebate and opt for a R5 000 cash payment."
Clyde Mervin, president of the Communications Workers Union says, "Even if we interdict, workers are going to resign from the union... and they will still take the package.
"Telkom was very clever by putting those packages out there and tempting workers who fell for that."
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