Fortescue Cuts Hundreds of Jobs
Fortescue Metals is cutting several hundred jobs in the UK and Australia.
The decision is part of a plan to send manufacturing activities to China, including for the motors and power trains of its planned giant electric haul trucks.
Affected Departments
The jobs cuts will affect Fortescue Zero.
Reason for Cuts
The company is focusing on R&D and aims to reach its target of "real zero" by 2030, meaning it will burn no gas or diesel at its giant Pilbara iron ore operations by that date.
- Up to 400 huge 240 tonne electric haul trucks will be needed for transporting ore at its mines.
- Half of these trucks will be built by China's XCMG.
Andrew Forrest's company is ramping up the roll out of new technologies to reach its ambitious target.
Author's summary: Fortescue cuts jobs in UK and Australia.