Arab Today, arab today bhp warns of australian job cuts
Last Updated : GMT 13:32:07
Arab Today, arab today
Arab Today, arab today

BHP warns of Australian job cuts

Arab Today, arab today

Arab Today, arab today BHP warns of Australian job cuts

Canberra - AFP

Global mining giant BHP Billiton warned Thursday of job losses at its Australian operations as it grapples with China\'s slowdown and ongoing turbulence in Europe. The Anglo-Australian miner is due to report its full-year results next Wednesday and speculation is growing of a significant drop in profits due to a slump in commodity prices as Chinese demand sags. BHP has already warned of production cuts, closing a loss-making Australian coal mine in April, and said last month it would be shuffling its investment projects to minimise cash pressures, with a grim near-term outlook. It said Thursday that it continued \"to focus on reducing our overheads and operating costs across the business... against a backdrop of increasing costs and falling commodity prices,\" and jobs could be at stake. \"We don\'t intend to provide any detail about specific adjustments, but clearly there may be some impact on jobs in some areas,\" the world\'s biggest miner said in statement ahead of Wednesday\'s results briefing. BHP chief Marius Kloppers told staff last month that the company had \"continued to see evidence of a faster-than-anticipated economic slowdown\" in China as its own costs rocketed, \"impacting our profitability significantly\". Kloppers said BHP had to \"reduce our cost base, eliminating all non-essential expenditure\" and would carefully consider any future capital investment in an internal note to staff published by Australian media. BHP posted a 5.5 percent fall in first-half profits in February to US$9.4 billion largely due to price volatility and warned of weakening conditions in its June quarter production report. Major rival Rio Tinto reported a 22 percent slump in annual net profit to US$5.9 billion earlier this month, blaming an easing in commodity prices, and analysts are predicting a similar fall for BHP. Australia\'s central bank has predicted that resources investment, a key driver of the nation\'s world-beating economic performance, is likely to peak by 2014.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bhp warns of australian job cuts Arab Today, arab today bhp warns of australian job cuts

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bhp warns of australian job cuts Arab Today, arab today bhp warns of australian job cuts

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday