that would indicate they are in dire straights, BSL (ex-bhp) has pulled the same on their employees but not to that extent however they look like they just want to improve the bottom line and viability of pk, bhp is beyond looking after its bottom line if they cut to that extent, many will start to look for new employment soon.
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BHP to Some Employees - "Take a 40% pay cut or leave", page-5
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