A slew of mining job cuts in Queensland coalfields this week has seen the tally exceed 1000.
This brings state-wide mine job losses to more than 7000 since early 2012.
The job losses come as companies implement cost cutting measures, as companies ensure the feasibility in what is very difficult market.
Glencore Xstrata said on Thursday it would slash 450 workers from its Newlands and Oaky Creek coalmines in the Bowen Basin.
Earlier this week it cut 46 workers at its Ravensworth mine in the Hunter Valley. It came as part of the company’s ongoing operational review.
Downer announced it is slashing 185 jobs from BMA’s Goonyella Riverside coal mine in Moranbah.
A spokesperson told Australian Mining BMA had advised the mine service contract company they planned to absorb a quarter of pre-strip work at the mine.
Peabody Energy announced it is slashing over 400 contractor jobs across its coal mines in a bid to conduct a ‘repositioning and improvement program’ to reduce costs.
Hastings Deering axed 200 jobs across its Rockhampton and Mackay sites, attributing it to the mining slowdown.
CFMEU mining and energy vice president Steve Pierce said the companies had wasted billions of dollars with workers bearing the brunt, The Observer reported.
“In the past 12 months, we have seen failed takeovers, we have seen attempted buy-outs of businesses that have been economic disasters and we have seen mergers that failed and cost the companies billions of dollars,” Pierce said.
He said the job cuts come as companies make ‘billions’ in profits, instead of the ‘multi-billions’ they predicted.
The Construction Forestry Mining and Energy Union accused companies of bad decision-making. Rio Tinto’s previous CEO Tom Albanese vacated his seat after the company wrote off $13 billion in its aluminium assets and coal deals in Mozambique.
BHP Billiton’s previous CEO Marius Kloppers resigned after supervising a $2.8 billion write-down in American gas assets.