Fortescue (ASX:FMG) laid off around 90 staff working on its hydrogen projects, across its Queensland electrolyzer facility and a hydrogen unit in Western Australia, according to a Tuesday report by the Australian.
The employees will be offered redeployment or redundancy within the firm's businesses.
A spokesperson for the firm said that it would refocus its efforts "into the research and development of new technologies," and that it needed to make "green iron" to ensure that it could "produce the large amounts of green hydrogen."
Fortescue has yet to respond to an email request for comment from MT Newswires.
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