Fortescue Cuts Hundreds of Jobs
Fortescue Metals, led by Andrew Forrest, is cutting several hundred jobs in the UK and Australia.
The decision comes as the company shifts its manufacturing activities to China, including production of motors and power trains for its giant electric haul trucks.
- Affected department: Fortescue Zero
- Reason: Focus on R&D and manufacturing in China
- Goal: Reach ambitious 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 required, with half to be built by China's XCMG.
Author's summary: Fortescue cuts jobs, moves manufacturing to China.
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