(MENAFN) Australian mall operator Westfield Group unveiled plans to shed 400 jobs, or 10 percent of its workforce, the Australian newspaper reported.
The newspaper cited unnamed sources as saying that the world's second largest listed retail trust by market value, had already begun cutting staff at its Sydney-based finance team.
The report said that job cuts drive would be implemented in all sections, mainly in back-office roles, such as the finance department and finance and asset management divisions.
Westfield reported USD782.6 million in FFO (funds from operations) for the first six months of the year, up from USD763.6 million a year earlier.
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