Australia Business News
BHP Announces 20 Percent Cut In Employee Bonuses
BHP, a leading mining company, will reduce short-term incentives for all employees by 20 percent for the 2023-24 fiscal year, as reported by the Australian Financial Review (AFR).
The decision stems from the company's failure to meet internal performance targets, including missed cost and production goals in certain divisions.
The affects of a tragic incident at the Saraji coal mine in Queensland, where a worker died in January, has been cited as a contributing factor.
AFR sources reveal some BHP employees are unhappy with the incentive cuts.
They point to hiring freezes in some divisions that have impeded their ability to achieve targets.
They also criticize what they consider to be unrealistic internal goals.
This isn't the first time BHP has slashed employee incentives.
In 2019, the company cut them by 20 percent following several operational mishaps.
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