Fortescue
ASX:FMGUnverifiedMining16,005 employees
Offshoring Summary
This company has not yet been reviewed for offshoring data. This does not mean they don't offshore — we simply haven't assessed them yet.
Financial Context
Market Cap
$55.0B
Revenue
$18.2B
Net Profit
$5.7B
Financial data: FY2024.
The Story
- 2024Fortescue abandoned its green hydrogen ambitions, shutting down Fortescue Future Industries and cutting approximately 700 positions globally. Chairman Andrew Forrest had spent years championing green energy as the company's future. [AFR]
- October 2025Fortescue cut approximately 700 more positions as it refocused on its core iron ore business. The company had pivoted away from its green hydrogen strategy after billions in investment failed to generate commercial returns. [SMH]
All facts sourced from public reporting. No editorial commentary. Click source links to verify.
Layoff Events
| Date | Headcount | Location | Department | Notes |
|---|---|---|---|---|
| 15 Oct 2025 | 700 | Australia | engineering | Fortescue cut approximately 700 positions globally. Abandoned plans to manufacture green energy equipment in UK, instead consolidating EV motor production in China. Majority of losses in UK (1,000 of 1,100 Fortescue Zero staff are UK-based). |
What Public Sources Say
All information below is sourced from publicly available documents and reporting. Excerpts are direct quotes. Click source links to verify.
News
Fortescue cuts 700 jobs, shifts green tech production to China“Fortescue cut approximately 700 positions globally. Abandoned plans to manufacture green energy equipment in UK, instead consolidating EV motor production in China. Majority of losses in UK (1,000 of 1,100 Fortescue Zero staff are UK-based).”