DOWNSIZING OF ORGANIZATIONS – AUSTRALIA

2000-plus mining jobs cut in 2016; more to go

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Original article by Tess Ingram
The Australian Financial Review – Page: 13 & 20 : 7-Mar-16

It is estimated that about 2,330 workers in the Australian mining industry have been retrenched so far in 2016. South32 plans to sack about 770 employees by mid-2016, while 330 employees of Consolidated Minerals have been affected by its decision to put production at its manganese mine in Western Australia on hold. Iron ore producers such as Grange Resources and Mount Gibson Iron have also shed staff in 2016, while media reports have suggested that Rio Tinto could retrench between 500 and 700 employees in Western Australia.

CORPORATES
SOUTH32 LIMITED – ASX S32, CONSOLIDATED MINERALS LIMITED, GRANGE RESOURCES LIMITED – ASX GRR, MOUNT GIBSON IRON LIMITED – ASX MGX, RIO TINTO LIMITED – ASX RIO, BC IRON LIMITED – ASX BCI, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, QUEENSLAND NICKEL PTY LTD, PIT CREW MANAGEMENT CONSULTING SERVICES PTY LTD, WESTERN AUSTRALIA. DEPT OF MINES AND PETROLEUM

Coles takes axe to workers

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Original article by Richard Gluyas
The Australian – Page: 19 : 3-Sep-14

Analysts are not certain yet how extensive the downsizing moves by John Durkan, the new CEO of major retailer Coles, will be. It is being forecast that between 10% and 20% of the 3,000 staff at its head office in Melbourne may be made redundant, in a bid to cut costs. Experts note that Coles is trying to maintain its ability to compete on price in the groceries sector with rival supermarket chains Aldi and Woolworths. Others say parent Wesfarmers should have detailed the job cuts during the results presentation in August 2014

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, SHAW STOCKBROKING LIMITED

Caltex to axe 350 jobs ‘to become stronger’

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 26-Aug-14

Caltex Australia has announced a 2014 interim net profit increase of 1% to $A173m, on revenue that also rose 11% to reach $A12.771bn. The six-month distribution is $A0.20, fully franked. CEO Julian Segal said the Australian-listed petroleum refining and service stations group would make another 350 workers redundant after 400 jobs were lost in the shutdown of the Kurnell refinery. Overall a tenth of the employees of Caltex will be laid off

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX

Qantas loss tipped to top $1.1bn

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Original article by Steve Creedy
The Australian – Page: 19 : 19-Aug-14

Qantas Airways will report its 2013-14 results in the week starting 25 August 2014, and is tipped to have suffered a record loss of at least $A1.1bn. Analysts’ predictions for the underlying loss before tax are around $A770m, and there will also be major abnormal charges stemming from the downsizing moves at the carrier. Qantas CFO Gareth Evans says the company has shed some 2,200 staff so far and is aiming for a further 2,800 redundancies, to realise cost savings worth $A1bn

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, MACQUARIE RESEARCH EQUITIES, MACQUARIE BANK LIMITED – ASX MBL, DEUTSCHE BANK AG, MORGAN STANLEY AUSTRALIA LIMITED

Fairfax eyes more cuts in the race to stem revenue bleed

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Original article by Darren Davidson
The Australian – Page: 17 : 15-Aug-14

Fairfax Media has announced a 2013-14 full-year net profit of $A224.4m post-tax, after a 2012-13 loss of $A15.5m. Excluding abnormal gains from the divestment of the Stayz and InvestSmart businesses, the operating earnings were up 1.8% to reach $A306.4m. Revenue in the newspapers division was down 9.2% to $A803.2m, and that of the radio assets 6% to $A103.8m. However at the Domain property wed site unit it grew 15.5% to $A146.6m. CEO Greg Hywood signalled further cost reductions, and investors pushed Fairfax shares $A0.06 higher to a close of $A0.94 on 14 August 2014

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, STAYZ PTY LTD, INVESTSMART FINANCIAL SERVICES PTY LTD, HANCOCK PROSPECTING PTY LTD, CITIGROUP PTY LTD