The company is planning to begin the job cuts in early June, despite announcing that its budget remain strong and flexible this year, reported ABC news.
However, the job cuts are reportedly an attempt by the company to reduce costs due to the slump in the global demand for coal.
The decline demand and coal prices is also forcing the company to wind up operations at several sites including the West Wallsend underground coal operations.
The company reducing coal production at its Australian mines by 15 million tons this year due to fall in coal prices and oversupply of coal.
At its West Wallsend mine the company plans to stop the development work in June, and suspend activities in the mid-2016.
