Fortescue’s (ASX:FMG) “laser focus on achieving real zero by 2030” means the Perth-based green technology, energy, and metals company will slash 700 jobs from across its global operations over the next few weeks.
In an announcement filed on the Australian Securities Exchange (ASX) at 4.45pm AEST today (17 July 2024), the $69.55 billion iron ore giant says it must continually evolve to ensure it remains lean.
“As part of this, approximately 700 people from across Fortescue’s global operations will be offered redundancies, with that process to be finalised by the end of July 2024,” the company says.
Meanwhile, Fortescue also advises the appointment of a Chief Financial Officer, Chief Operating Officer, and Company Secretary, “together with the simplification of its structure to ensure it remains lean, impactful and agile”.
Acting CFO Apple Paget will move into the role of Group Chief Financial Officer, after serving 11 months acting in the role. Chief Corporate Officer Shelley Robertson has been appointed COO. Assistant Company Secretary Navdeep (Mona) Gill has been appointed as the secretary.
“The company has undergone a period of rapid growth and transition, and as part of bringing together metals and energy into one Fortescue, initiatives are being implemented to simplify its structure, remove duplication and deliver cost efficiencies,” the company says in its announcement.
Today’s move comes after reports had emerged in February that the company was looking to cut up to 1,000 jobs across its back office and clean energy unit as part of a cost-cutting exercise.
Write to Adam Orlando at Mining.com.au
Images: Fortescue
