Origin Energy has confirmed that it will axe a total of 850 jobs by the end of the year.
Around 500 of those positions have already gone, as the company sharpens its focus on containing costs.
The announcement came as the energy retailer and gas producer posted a half-year profit slump of 34 per cent, to $524 million.
Origin expects its full-year profit to fall by 10 to 15 per cent.
The company will pay its shareholders an interim, fully franked dividend of 25 cents per share.
Origin Energy shares slumped 8.6 per cent on the result to $11.32 by 12:44pm (AEDT).