The company has also abandoned its plans to fill 230 vacant positions.
Peabody said that the latest cost saving measures are being taken in response to global economic challenges.
In June 2013, Peabody has announced its plans to cut 450 contractor jobs in Australia.
The company said in a statement that the reduction will make the company’s workforce size in line with other cost reduction programs, as part of a comprehensive cost management review in order to secure the long-term competitiveness of its operations.
Peabody operates eight coal mines in Queensland and three in NSW.
