BHP is said poised to cut jobs as streamlining plan progresses

BHP Group Chief financial officer, Peter Beaven. (Bloomberg pic)

SYDNEY: BHP Group will cut jobs in a continuing effort to reduce bureaucracy under a previously foreshadowed streamlining strategy, a person familiar with the matter said.

It is unclear how many jobs will be lost or when the reductions will begin, the person said, requesting anonymity because the move isn’t public.

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.

Earlier Saturday, The Australian newspaper reported that the mining giant would target more than 700 white-collar jobs which would be cut as soon as next week.

The newspaper said cuts to BHP’s finance team were flagged at a company meeting last week by Chief Financial Officer Peter Beaven. BHP’s technology team also faces a reduction of as much as 30% of its 2000-strong team spread across Australia and Singapore, the newspaper added.

A spokesperson 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.