Deciphering Thin Copper and Fabric Wires in Cable
The fine copper wires are the shield which is spirally wrapped around the inner conductors.  The pinout reference posted by @pjc50 says that the outer shield is not connected. So that apparently means you can cut the wires off.

The white fibrous stuff is not conductive. It is partly for physical strength, and partly to fill in the space so that the overall profile of the wire is nice and round.  Just cut it off completely. Of course be very careful not to cut any of the wires. This is not referring to the actual wire with a white insulation.