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[BHP Billiton plans to restructure its Australian iron ore business and the scale of layoffs may be further expanded] November 12th, as part of a larger cost-cutting operation, BHP Billiton plans to reorganize its Australian iron ore business. The move is aimed at helping the world's largest mining company cope with pressure from rising costs and weaker prices for iron ore, a key raw material for steel production. People familiar with the matter said the changes, which build on reforms initiated under former chief executive Mike Henry, would ultimately have an impact beyond the iron ore business as BHP reviews costs in other parts of its portfolio. They added that other departments may also face layoffs.
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