That's it for today – thanks for reading
Here are the main stories on Wednesday 17 July:
Workplace relations minister Tony Burke empowered the Fair Work Commission general manager Murray Furlong to appoint an independent administrator to branches of the CFMEU;
The ACTU also announce that it has suspended the construction and general division of the union after a raft of corruption allegations;
Fortescue announce about 700 redundancies, to be finalised within days;
Kevin Rudd, the Australian Ambassador to the US, says Australia should “chill” if Donald Trump wins the 2024 election;
Victorian MP for Mulgrave Eden Foster has been diagnosed with cancer. Foster, 43, replaced former premier Daniel Andrews after a byelection in October last year;
The head of the Australian Energy Regulator doubts nuclear energy is possible in the country by 2050; and
A memorial service is held in Canberra for the 10th anniversary of the downing of MH17.
We will see you here again for more news tomorrow.
Updated
Fortescue to make 700 staff redundant
About 700 people from Fortescue’s global operations will be made redundant, the Australian company has confirmed in a statement.
Fortescue says the redundancy process will be finalised by the end of the month. Its statement read:
Fortescue remains resolute in its commitment to be the world’s leading green technology, energy and metals company with a laser focus on achieving Real Zero by 2030.
The Company has undergone a period of rapid growth and transition,and as part of bringing together Metals and Energy into One Fortescue, initiatives are being implemented to simplify its structure, remove duplication and deliver cost efficiencies.
The Company must continually evolve to ensure it remains lean, is best positioned to deliver on its strategy and generate the maximum value for shareholders.
As part of this, approximately 700 people from across Fortescue’s global operations will be offered redundancies, with that process to be finalised by the end of July2024. Fortescue is grateful for the contribution of all those impacted by these changes.
Updated
