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 outsourcing manufacturing to China
Target: "real zero" by 2030, with no gas or diesel burned at Pilbara iron ore operations
To achieve this goal, up to 400 huge 240-tonne electric haul trucks will be needed, with half to be built by China's XCMG.
Author's summary: Fortescue cuts jobs as it outsources manufacturing to China.