Forrest blames RIO as he sacks workers

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Jeez:

Fortescue has begun sacking hundreds of workers as it ditches its boom-time eight days on, six days off roster for 14 days on, one week off to cut costs.

“It is a nonsensical injury from the iron ore price wars,” Mr Forrest said.”The two multinationals, now one, are continuing a strategy and we, all Australians, are paying the price for.”

You’re not speaking for me, mate, or any Australian. Go RIO.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.