Property developer Lend Lease is cutting 2,000 jobs globally over the next six months, with about 400 of those in Australia.
The company has reported a net first-half loss of almost $600 million after writing down the value of its assets.
Lend Lease chief executive Steve McCann says the company needs to shed jobs.
"Our total work force of over 12,000 people is expected to reduce to just under 10,000, as we right-size for current market conditions," he said.
Full Article from Source @ ABC
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Aussie Businesses are becoming less competitive and with recession this problem has worsened. Its no surprise that Businesses are shutting down and scaling down operations. Unless Government takes some important action inclduing a reduction in Business Tax from 30% to between 20% to 25% these bad news will keep coming.
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