Fortescue’s sweeping restructure goes far beyond removing the duplication of back room functions between its energy and mining arms, with a growing number of senior executives set to depart as the company sweeps out layers of management.
The cost-cutting comes as the iron ore price dipped below $US100 a tonne this week in the wake of market disappointment that a major Chinese Communist Party policy meeting, the third plenum, failed to deliver major stimulus packages that might help kickstart the country’s ailing construction sector.
Fortescue’s sweeping restructure goes far beyond removing the...
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Last
14.5¢ |
Change
-0.005(3.33%) |
Mkt cap ! $18.07M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.0¢ | 14.5¢ | $8.234K | 55.89K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 108051 | 14.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 34980 | 1 |
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| Last trade - 10.48am 04/10/2024 (20 minute delay) ? |
| AKO (ASX) Chart |