Australia’s BHP, unions fail to reach wage deal
BHP and the unions representing workers at Port Hedland in Western Australia were unable to come to an agreement on a wage deal, according to a statement released on August 18. The parties have agreed to reconvene on August 25 to continue negotiations. During the meeting, BHP presented a proposal that the union felt did not adequately address the concerns of those who were responsible for generating the company's $13 billion profit.
BHP has not yet commented on the matter. Earlier in the day, BHP announced stronger-than-expected full-year earnings of $13.20 billion, as well as its highest annual dividend in four years. Despite this success, some BHP workers at Port Hedland, the world's largest iron ore export hub, had recently called off a second planned strike, marking the first major industrial action at the site in over 25 years.
However, BHP CEO Brandon Craig stated that he did not anticipate the industrial action to have a significant impact on the company's performance.
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