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AGL Energy to cut hundreds of jobs as it closes down coal power plants READ MORE: Australian billionaire Mike Cannon-Brookes paints himself a climate crusader - but his private jet trips with his new girlfriend tell a different story By DAILY MAIL Published: 02:44 GMT, 31 October 2025 | Updated: 03:09 GMT, 31 October 2025 AGL Energy will axe hundreds of jobs as it looks to slash costs and free up cash to fund a major push into renewable energy and large-scale battery projects. The company has not confirmed the scale of the cuts, but The Australian reports as many as 300 employees could lose their jobs. 'As we transition our portfolio, and connect our customers to a sustainable future, we need to ensure that today's business remains productive and competitive in this changing market while we continue to invest in our business for tomorrow,' an AGL spokesperson said. 'As part of this focus, we're proposing changes to our organisational structure and reviewing both labour and non-labour costs to improve productivity and embed cost discipline across the enterprise. 'We understand this may be a difficult time for our people and we're committed to communicating with transparency and respect and providing support throughout the consultation process.' AGL is set to wrap up its review process soon, with confirmation of which roles will be axed expected before the end of the year. Atlassian co-founder Mike Cannon-Brookes became AGL's largest shareholder in 2022, purchasing an 11 per cent stake to pressure the company into accelerating its move to renewable energy. The tech mogul then used his influence to block AGL's proposed demerger, which would have extended the life of its coal-fired power plants, and publicly called AGL 'one of the most toxic companies on the planet' due to its high carbon dioxide emissions. Atlassian co-founder Mike Cannon-Brookes became AGL's largest shareholder in 2022 AGL Energy will axe hundreds of jobs as it looks to slash costs and free up cash to fund a major push into renewable energy and large-scale battery projects Mr Cannon-Brookes also warned the world needs to change eating habits by adding insects to its daily diet if there is hope to feed a global population of eight billion, despite using a private jet to travel around the world himself. AGL's renewable energy transformation strategy involves investing up to $20billion by 2035 to deliver about 12 gigawatts of new renewable generation and battery storage capacity. In August, the company reaffirmed its commitment to exit coal by the mid-2030s. As Australia's largest carbon emitter, AGL says its expanded battery network will play a key role in supporting the transition away from coal. Internally, tensions persist between Cannon-Brookes' camp, pushing for rapid emissions reductions, and shareholders who want AGL to preserve profits and prioritise shareholder returns. Share or comment on this article: AGL Energy to cut hundreds of jobs as it closes down coal power plants Add comment
