Mining behemoth BHP Group is poised to slash over 700 white-collar jobs, as per a report by The Australian. The process could start as early as next week.

The development follows the announcement last week by BHP’s CFO Peter Beaven wherein he revealed plans of cuts of up to 20 percent to his 900-strong finance team at an internal town hall meeting.

BHP's technology group will also face cuts in the workforce as part of a restructuring that could see up to 30 percent of its 2000 Australian and Singaporean workers leave the group. The report adds that cuts are not targeted at the workforce operating BHP's global mines but will be part of its restructuring of "functional" sections as it makes efforts to streamline operations, The Australian reported.

The restructuring comes as BHP has been aiming to simplify the business and support facilities, a process that has been underway for about a year. This process has been underway across functions including finance, human resources, technology, and external affairs.

Coincidentally, the cuts 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.

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