CORRECTED - CORRECTED-Babcock & Brown says in talks on debt restructure

(Corrects day in paragraph 2)

SYDNEY, Nov 19 (Reuters) - Australian investment firm Babcock & Brown Ltd (BNB.AX) has entered talks with banks to restructure its debts and effectively classified all its non-infrastructure investments as non core.

The group also said on Wednesday it would undertake more job cuts and cut operating costs by more than 50 percent by 2010. (Reporting by Mette Fraende)