Citing the "unprecedented rapidity and severity of the global economic downturn," the Anglo-Australian company said it will slash as many as 14,000 job roles globally, including 8,500 contractors and 5,500 employee roles.
The company also said it will pare net debt by US$10 billion by the end of 2009 and lower "controllable operating costs" by at least $2.5 billion a year in 2010.
The debt reduction will be on top of the $3.2 billion it has already reduced since the end of June. At Oct. 31, net debt stood at $38.9 billion.
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