Fortescue Cuts Jobs and Shifts Manufacturing to China
Fortescue Metals, led by Andrew Forrest, is cutting hundreds of jobs in the UK and Australia as it focuses on research and development (R&D) and moves manufacturing to China.
This decision includes the production of motors and power trains for its giant electric haul trucks, which will now be built by China's XCMG.
- The job cuts will affect Fortescue Zero.
- The company aims to reach "real zero" by 2030, meaning it will burn no gas or diesel at its Pilbara iron ore operations.
- This target requires up to 400 huge 240-tonne electric haul trucks for transporting ore at its mines.
Fortescue Metals is shifting its manufacturing to China as part of its plan to reach "real zero" by 2030.
Author's summary: Fortescue cuts jobs and shifts manufacturing to China.
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