Rail haulage group Aurizon will scrap 200 full-time jobs as it tries to stem sliding profits and hauls less bulk commodities, partly because of big customers such as the Whyalla Steelworks being in administration.
The job cuts were revealed ahead of the Macquarie Australia conference in Sydney on Wednesday, where Aurizon chief executive Andrew Harding will discuss the company’s financial outlook with investors.
Harding has struggled to diversify Aurizon, which makes most of its money from coal-related activities, away from fossil fuels.
The company’s stock slid 21 per cent over the past 12 months and closed at $3 on Tuesday despite a $300 million share buyback. Net profits have been declining, and the job losses are expected to help reduce costs by $50 million.
Attempts to develop Aurizon’s bulk haulage business are not yet paying off, and three of the company’s customers – including GFG Alliance’s Whyalla Steelworks – fell into administration over the past year.
Source: https://www.afr.com/companies/infrastructure/aurizon-slashes-200-jobs-as-whyalla-impairment-bites-20250506-p5lx30