Fortescue Metals Group to shed 'hundreds' of employees from workforce
Mining billionaire Andrew "Twiggy" Forrest's Fortescue Metals Group is set to shed over 100 workers in the coming days, with lay-offs already being rolled out this week.
According to The Sydney Morning Herald the first staff on the chopping block were told yesterday they'd lost their jobs, with none being offered to volunteer for redundancy.
It's believed further lay-offs ramped up this morning, with the final number reportedly in the "low hundreds".
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When asked by 9News how many staff in total were set to lose their jobs, a Fortescue Metals spokesperson said the changes were "business as usual for rapidly evolving global companies".
"We are always looking for opportunities for continuous business improvement to maintain our industry-leading cost position," the spokesperson said.
"Right now we are growing globally and allocating resources swiftly to North America, responding to the Inflation Reduction Act (IRA).
"Projects such as Iron Bridge are coming into production phase soon, while our work in Gabon is just kicking off.
"As this occurs project staffing naturally ebbs and flows."
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With a total of 15,000 employees, Fortescue Metals made a profit of $3.4 billion in the second half of 2022.
Forrest is the former CEO of the business and remains non-executive chairman, owning a third of the company.
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