Oct 16, 2020

New Hope slashes head office staff

New Hope slashes head office staff

New Hope Corporation has offered voluntary redundancies to workers in its Brisbane corporate headquarters, where up to 75 per cent of the workforce will be cut by the end of November.

With about 120 employees there, that means about 90 jobs may go.

The changes would see a more streamlined management structure with the majority of executive positions being removed, the company said.

“With the ongoing uncertainty around approvals for New Acland we have had to refocus and put the business in the best position to go forward,” chief executive officer Mr Reinhold Schmidt said.

“We have had to make some extremely difficult decisions but, in reality, even if we were granted approvals for Stage 3 today, we are in for a
tough couple of years as we ramp up again.”

The New Acland Stage 3 project which would allow continued operations at the New Acland mine on the Darling Downs continues to be held up as the company waits for final approvals from the State Government.

Delays in receiving these approvals have resulted in the company making 175 employees redundant at the New Acland coal mine.

There was also a previous cut at the corporate office and the Brisbane port facility which saw 23 people made redundant.

In its annual report last month the company said timely approval of Stage 3 could save 125 existing direct jobs and potentially create a further 500 jobs within 18 months.

State Opposition leader Deb Frecklington has said the LNP would approve this project if voted in at the upcoming Queensland election.