Seven Group to cut 630 jobs

Seven Group subsidiary warns on full-year earnings, plans organisational restructure at cost of $13m.

Seven Group Holdings (SVW) says it will cut 630 positions across its WesTrac business in a divisional restructure and expects earnings to be at the lower end of guidance due to challenging market conditions.

The staff reductions, to be implemented in the next month, will cost $13 million and come in addition to 375 redundancies announced earlier this year at a cost of $8 million.

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