It had to happen sooner or later but news this morning that BHP is cutting 100 staff from its iron ore headquarters in Perth show the transition of the West Australian iron ore industry from investment to production.
The AFR says that the staff who will lose their jobs were performing “functional roles on project work that has wound down and is not directly related to the recent iron ore price plunge”.
Having said that though, it does show that BHP is unwilling to carry any surplus staff and as a cost-cutting measure, 100 staff is a significant saving.
The AFR says that a BHP spokesman – who wouldn’t confirm the number of job losses – said that BHP remained committed to its “productivity agenda”.
You’ll probably hear more of this from Australia’s miners given the iron ore and coal price falls – it’s code for “job losses”.
You can read more here
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.