Diversified miner South32 is looking to cut its operating costs by 7.5 per cent over the next three years, with a particular focus on payments to contractors.
BHP Billiton spin-off South32 has closed its first day of trade on the ASX valued at $10.91 billion, ranking it as Western Australia's third largest company and a top 30 stock nationally.
South32 chief executive Graham Kerr says he is confident the diversified mining company will be ready to operate as an independent entity later this month, after BHP Billiton shareholders strongly endorsed the demerger.
The tougher business climate has prompted some WA companies to cut executive salaries, but most have held the line and some have even awarded pay rises.
BHP Billiton's new boss Andrew Mackenzie has shaken up the global miner's leadership group, with petroleum boss Michael Yeager leaving the company but Perth-based iron ore president Jimmy Wilson an
