08:14 AM EDT, 07/05/2024 (MT Newswires) -- BHP Group ( BHP ) has slashed incentive pay bonuses for thousands of employees worldwide after failing to meet performance goals, Reuters reported, citing an article Thursday in the Australian Financial Review.

The mining firm will pay only 80% of short-term incentives offered from 2023 to 2024, Reuters cited the Review as saying.

The effective pay cuts reportedly angered BHP employees who blamed hiring freezes for the missed targets.

The incentives can add up to 15% to employees' salaries, the Review reported.

BHP did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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