BHP Billiton Group plans to restructure its Australian iron ore business as part of a cost reduction initiative. The Perth-based business segment reform aims to simplify the management structure, so that more back-office support functions are directly owned by the mine assets it serves, and no separate departments are set up. People familiar with the matter said that the scope of subsequent reforms is not limited to the iron ore business; BHP Billiton is sorting out costs in other business segments, and other departments may also lay off employees.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.