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Woodside to Axe More than 500 Jobs
The company said it will streamline operations and lift portfolio returns as it moves to cut headcount and sharpen spending.
- On Thursday, Woodside Energy announced it will cut more than 500 jobs from its global workforce, targeting more than $570 million in annual structural cost reductions by 2028. Chief executive Liz Westcott unveiled the strategy at the company's Capital Markets Day in Sydney.
- Westcott is streamlining operations through portfolio optimization and AI-enabled maintenance planning to improve returns. The company recently sold a 33.44 stake in the Timor Sea's Greater Sunrise gas resource to the Timor-Leste government for $285 million.
- While around 85 per cent of Woodside's approximately 5500 employees are based in Western Australia, the company has not detailed where most cuts will occur. The producer also set a target for portfolio returns of up to 15 per cent by the mid-2030s.
- WA Treasurer Rita Saffioti urged the community to support the gas industry as part of the state's economic vision, though she expressed sadness for workers losing jobs. Saffioti said gas remains "an integral part of our energy supply."
- Criticizing the restructuring, Greens MLC Sophie McNeill labeled Woodside "a company in decline" and opposed the proposed "massive new carbon bomb" on top of Scott Reef. McNeill called for a managed fossil fuel phase-out to transition workers into green energy jobs.
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18 Articles
18 Articles
Woodside Energy Australia announced a change in profit sharing policy among shareholders and a plan to cut about 500 jobs globally.
·Tehran, Iran (Islamic Republic of)
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Sydney Morning Herald+3 Reposted by 3 other sources
‘We’ll bat for gas’: Saffioti defends sector in wake of Woodside job cuts
The bulk of Woodside’s employees are based in Western Australia.
·North Sydney, Australia
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Total News Sources18
Leaning Left5Leaning Right4Center4Last UpdatedBias Distribution38% Left
Bias Distribution
- 38% of the sources lean Left
38% Left
L 38%
C 31%
R 31%
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