Research suggests that approximately 55,000 Australians have lost their jobs in 2024. Who are these companies?
The list of companies, featuring a who's who of large corporates & government departments, is not the full list. A very large cross-section of companies of varying sizes & industry sectors have had to make cuts.
The list includes:
PwC Australia - Over 350 staff redundant following a tax scandal (Tech.co).
Milkrun - Shutdown leading to over 400 job losses (Tech.co).
Optus - Significant staff cuts, approximately 200 employees (Tech.co).
Medibank - Approximately 300 employees made redundant as part of restructuring efforts (Tech.co).
DXC Technology – Significant staff cuts, approximately 300 employees in the ANZ region
Telstra - Announced redundancies impacting 2,800 employees to modernise operations through the deployment of AI and workforce offshoring. 25 percent of Telstra's Enterprise division will be impacted (Tech.co).
Qantas - Around 1,700 staff cut as part of restructuring plans (Tech.co).
ANZ Bank - Approximately 600 employees made redundant to streamline operations (Tech.co).
Woolworths - Layoffs due to strategic shift, affecting around 500 employees (Tech.co).
Coles - Implemented redundancies impacting about 450 employees due to market changes (Tech.co).
Australia Post - Announced job cuts, affecting approximately 400 employees (Tech.co).
Westpac - Workforce reduction involving around 800 employees (Tech.co).
NAB - Redundancies impacting 600 employees to streamline operations (Tech.co).
Commonwealth Bank - Approximately 700 employees made redundant due to economic pressures (Tech.co).
Rio Tinto - Staff reductions affecting about 500 employees due to operational restructuring (Tech.co).
BHP - Announced job cuts involving 450 employees to improve operational efficiency (Tech.co).
Woodside Energy - Staff redundancies impacting around 300 employees as part of cost-cutting (Tech.co).
Santos - Workforce reduction affecting approximately 350 employees due to economic pressures (Tech.co).
Lendlease - Announced job cuts affecting 200 employees to focus on core business areas (Tech.co).
GPT Group - Staff redundancies involving around 250 employees as part of restructuring (Tech.co).
BlueScope Steel - Layoffs due to market conditions, affecting about 300 employees (Tech.co).
NBN Co - Reported significant losses, leading to job cuts involving 250 employees (Tech Business News).
Cloudwerx - Acquisition led to staff cuts at Lightfold, affecting 150 employees (Tech Business News).
Local Councils - Implemented staff redundancies to manage budgets, affecting around 600 employees (Deloitte United States).
Water Corporation - Employee layoffs reported due to management decisions, affecting 150 employees (Tech.co).
Australian Unity Funds Management - Impacted by ASIC's stop order, leading to job cuts of approximately 100 employees (ASIC).
Energy Australia - Staff cuts involving about 200 employees due to market changes (Tech.co).
Sydney Water - Announced redundancies affecting 180 employees as part of cost-cutting measures (Tech.co).
Transport for NSW - Job cuts impacting around 250 employees as part of operational changes (Tech.co).
VicRoads - Staff reductions involving 120 employees due to restructuring efforts (Tech.co).
Queensland Rail - Approximately 150 employees made redundant due to budget cuts (Tech.co).
Department of Health - Staff cuts affecting about 300 employees as part of restructuring (Tech.co).
Department of Education - Redundancies impacting around 250 employees due to funding changes (Tech.co).
Department of Defence - Workforce reduction involving approximately 500 employees due to budget constraints (Tech.co).
CSIRO - Staff cuts affecting 200 employees as part of strategic realignment (Tech.co).
Australian Taxation Office - Redundancies impacting 300 employees due to operational efficiency measures (Tech.co).
Bureau of Meteorology - Approximately 100 employees made redundant due to budget adjustments (Tech.co).
Department of Agriculture - Staff reductions involving 150 employees due to restructuring (Tech.co).
Australian Securities and Investments Commission (ASIC) - Job cuts impacting around 120 employees as part of cost-saving initiatives (ASIC).
Department of Home Affairs - Workforce reduction involving 200 employees due to strategic changes (Tech.co).
Australian Federal Police - Redundancies affecting 100 employees as part of budget cuts (Tech.co).
Department of Environment - Staff cuts impacting 150 employees due to funding reallocations (Tech.co).
Australian Broadcasting Corporation (ABC) - Job cuts involving 200 employees due to funding cuts and operational changes (Tech.co).
But why?
It's easy to be critical of organisations who cut employees. Let's face it, the process of redundancy & contractor terminations or non-renewals is not easy or enjoyable.
Some say it's the pendulum swinging back from the post-COVID boom.
Others point towards poor demand, economic pressures & the need to reduce cost.
Some are executing restructuring with the objective to streamline operations.
Others talk of technological advancements & automation
Some blame global business pressures, the need to offshore workforces and other external factors.
And, while they won't admit it, others need to address poor planning, execution & workforce management.
Either way, this is another reason for why people need to be loyal to themselves rather that to their employers - you never know when you're time is up.
It's essential to always stay ready for job market disruption!
Need help to stay job market ready? Reach out to Talentology & check out our CareerAGILITY job search coaching service.
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