August 14, 2012
There has been no target number set for job reductions at Stanwell, the company’s CEO Richard Van Breda said this afternoon.
Mr Van Breda’s statement followed a newspaper report this morning that stated “up to 160” jobs could be lost across the Stanwell Corporation.
“We do not have a target number of job reductions and, in line with our enterprise agreements, there will not be any forced redundancies at Stanwell,” Mr Van Breda said.
“Unions and employees will be consulted as part of the review process.”
Mr Van Breda, who was recently appointed Stanwell CEO, said the company was undertaking a review of its structure, projects and expenditure to address the challenges it faces in Queensland’s oversupplied electricity market.
“We are operating in a subdued and highly competitive wholesale electricity market and need to take urgent action to ensure we have a strong, viable future,” he said.
“A number of factors, such as the popularity of rooftop solar electric systems, along with a drop in the amount of electricity people are using, are keeping demand for electricity very low.
“Across all of our power stations, sites and offices, we will challenge our expenditure and ensure we have the right structure, functional capabilities and projects to deliver on our corporate strategy.
“As part of this process, we are reviewing our operating model and team functions to ensure we have the best organisational structure in place to achieve our objectives.”
