MELBOURNE (BLOOMBERG, REUTERS) - The world's biggest miner BHP Group is poised to cut over 700 white-collar jobs, The Australian newspaper reported, adding that the process could start as early as next week.
Last week, BHP chief financial officer Peter Beaven revealed plans of cuts of up to 20 per cent to his 900-strong finance team at an internal town hall meeting, the newspaper said.
BHP's technology group will also face cuts in workforce as part of a restructuring that could see up to 30 per cent of its 2000 Australian and Singaporean workforce leave the group, according to the report.
The cuts are not targeted at the workforce operating BHP's global mines but will be part of its restructuring of "functional" sections in an attempt to streamline their operations, The Australian reported.
BHP will cut jobs in a continuing effort to reduce bureaucracy under a previously foreshadowed streamlining strategy, a person familiar with the matter said.
A spokesman for BHP declined to comment on The Australian report, but said the process of simplifying the business and support facilities has been underway for about a year.
"This work began about 12 months ago and is across functions including finance, human resources, technology and external affairs," the spokeswoman said in an emailed statement.
The changes come less than six weeks after the mining giant announced a major shake-up of its senior management, with the promotion of three women to key positions on its executive leadership board and the appointment of a chief transformation officer.
On Tuesday, the company had said initial estimates indicated its iron ore production would take a hit of about 6 million to 8 million tonnes after disruption and damage caused by tropical cyclone Veronica last week.
BHP said its 2019 financial year production and unit cost guidance are under review because of the cyclone which hit Western Australia.