Rail giant QR National has a round of 750 voluntary redundancies, bringing the total number of positions shed from the company to 900 for the calendar year.

 

The company has cited the ongoing organizational restructuring as the reason behind the job losses, saying the redundancies will be targeted towards increasing productivity and lowering costs.

 

Under the restructuring scheme, the company has earmarked $75 million for the 750 voluntary redundancies over the next 12 months.

 

“The benefits of transformation and restructuring, including the strong expected uptake for the current voluntary redundancy program, will deliver sustainable cost savings and efficiencies in coming years,” QE National Managing Director and CEO Lance Hockridge said.

 

The announcement comes after the company increased its underlying EBIT up to 52 per cent, up from $383 last financial year.