🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Queensland Nickel administrators say to cut most staff on Friday

Published 10/03/2016, 03:21 pm
Updated 10/03/2016, 03:30 pm
© Reuters.  Queensland Nickel administrators say to cut most staff on Friday

MELBOURNE, March 10 (Reuters) - The administrators of Australia's Queensland Nickel Pty Ltd said on Thursday that the majority of the refinery's employees will have their employment terminated on Friday.

Administrators FTI Consulting, which were called into the struggling plant in January, were sidelined this week, when an affiliated unit of plant owner and politician - Clive Palmer Queensland Nickel Sales - took back management control.

"Queensland Nickel Sales Pty Ltd, the newly appointed manager of the Refinery, may offer current employees of Queensland Nickel Pty Ltd employment but the Administrators are currently unaware of the terms or timing of those offers," FTI Consulting said in a statement.

"The terminations of employment and uncertainty regarding the new offers is a deeply regrettable situation, although unavoidable given the Administrators no longer have operational control of the Refinery."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.