BHP Billiton plans job cuts at Melbourne HQ

OREANDA-NEWS. UK-Australian resources firm BHP Billiton plans to cut the number of jobs at its Melbourne office by 25pc.

The reduction in staff to 300 in the coming years from the current 400 is because of the company's continuing rationalisation, following the demerger of its base metals assets into spin-off firm South32 and the fall in commodity prices and subsequent cutting of capital expenditure.

This will be a gradual process over a number of years and includes the movement of BHP Billiton's treasury division to London, the company said. Melbourne and London count as the joint head offices of the dual-listed company.

The move of the company's treasury operations to London has attracted critics, which say the move is not in the spirit of the Foreign Investment Review Board approval's to the merger of BHP and Billiton in 2000. This was based on a number of conditions such as keeping its headquarters in Australia.

BHP Billiton has also been moving more of its office staff in Australia to Perth. Western Australia is home to its largest operations in Australia, such as the iron ore mines in the Pilbara region and its offshore oil and gas interests.