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FILE PHOTO: BHP Billiton President and CEO Andrew Mackenzie is shown in front of a screen showing the company's logo at a roundtable with reporters in Tokyo, Japan on June 5, 2017. REUTERS / Kim Kyung-Hoon
(Reuters) – Australia's BHP Group is on the verge of cutting more than 700 white-collar jobs, the Australian newspaper said, adding the process could begin as early as next week.
Last week, BHP's chief financial officer, Peter Beaven, revealed plans for cuts of up to 20% to his 900-strong financial team, at an internal public meeting, announced the newspaper.
BHP's technology group will also face workforce reductions as part of a restructuring that could see up to 30% of its workforce in 2000 from Australians and Singaporeans leave the group, according to the report. report.
The cuts are not about BHP's global mining workforce, but will be part of its restructuring of the "functional" sections to streamline their operations, the Australian said.
BHP did not respond to a request for comment from Reuters on Saturday.
On Tuesday, the company said the initial estimates indicated that its iron ore output would cost about 6 to 8 million tonnes after last week's disturbance and damage from tropical cyclone Veronica.
The world's largest mining company said its production and unit cost forecasts for fiscal 2019 are being revised due to the hurricane in Western Australia.
Report of Kanishka Singh in Bengaluru; Edited by Muralikumar Anantharaman
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