Fortescue is making significant job cuts, with 700 positions being axed globally. The mining giant is restructuring to remain "lean, impactful, and agile" while still committing to its green technology vision. However, its ambitious goal of producing 15 million tonnes of green hydrogen annually by 2030 is now on hold due to high electricity prices.
Andrew Forrest, Fortescue's executive chairman, insists the company is not walking back from hydrogen, but rather streamlining operations to improve efficiency. The layoffs will primarily affect white-collar roles where there's duplication between mining and energy divisions.
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