AGL, one of Australia's largest electricity companies, has announced plans to cut up to 300 positions from its coal-fired power stations at Bayswater in the Hunter Valley and Loy Yang A in the Latrobe Valley, as well as across its hydro sites. The job cuts are part of a restructure aimed at freeing up capital to accelerate the company's transition from coal to renewable energy.
In a presentation to workers on Friday, AGL outlined its proposal to reduce its workforce before Christmas. The company stated that it needs to ensure its business remains productive and competitive in a changing market while investing in future technologies. AGL is investing $20 billion to build 5GW of renewable and firming technologies by 2030.
The Mining and Energy Union has criticized the timing of the job cuts, calling them a 'kick in the guts for power station workers in the lead up to Christmas.' Union general secretary Grahame Kelly warned that government intervention may be needed to support affected workers and ensure energy companies do not fast-track job cuts to avoid retraining and redeployment obligations under the federal government's Net Zero Economy Authority.
AGL, Australia's biggest single carbon emitter, has brought forward the planned closure of its two coal-fired power stations. The company is consulting its workforce on the proposed restructure and insists no final decision on job cuts has been made.
