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.
- Jobs cuts will affect Fortescue Zero
- Company aims to reach "real zero" by 2030, with no gas or diesel used at its Pilbara iron ore operations
- Up to 400 huge 240 tonne electric haul trucks will be needed to transport ore
- Half of the trucks will be built by China's XCMG
Andrew Forrest’s Fortescue Metals is focusing on R&D while sending manufacturing to China.
Author's summary: Fortescue cuts jobs as it shifts manufacturing to China.