Shopping centre giant Westfield may cut up to 400 jobs from its global workforce of about 4,000 people.
News Ltd media reported that the biggest cuts were likely to be in administrative roles such as finance and asset management.
Westfield said in a statement that it was continuously seeking ways to operate its business more efficiently through systems, technology and organisational structures.
‘‘Decisions about staff numbers and structures are consistent with this approach and reflect the group’s ongoing focus on cost control,’’ the company said.
‘‘Just one example of this has been the Westfield Group’s decision to freeze senior executive salaries for three of the past four years.’’
A week ago, the company lifted its profits by nearly a third and looks has many developments in the pipeline that will help drive the company’s success further.
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