People at EnergyAustralia say the company's job cuts have reached its layer of "heads of" managers, and that deeper cuts will be announced before Christmas.
One person at the company told The Aussie Corporate this week that "cuts continue", with "30% of heads of layer made redundant" and "deeper cuts to be announced this side of Christmas". EnergyAustralia has not said publicly how many senior roles are affected or when a further round would come.
EnergyAustralia plans to cut about 150 jobs, nearly 7 per cent of its workforce, after hiring the global professional services firm Alvarez & Marsal to review its operations, The Australian reported on 27 October. HCA Magazine and People Matters carried the report, which said the cuts would span "multiple areas of the business". It did not say which teams or levels were affected. The company's news page has nothing on the cuts.
What people at the company told us
People at EnergyAustralia have written to us since September. In mid September one person told us of "another big round of job cuts". On 14 October another said "several very senior leaders" had been made redundant that day.
On 20 October one person said the company was "about to go through wave 2 EOM and wave 3 December", and that "A & M" was "running through every department at the moment". The Australian named Alvarez & Marsal a week later. On 27 October another person said staff would find out about the second wave of "restructures" that week, and that "Heads of" who report to execs were the focus.
Fewer customers and thinner margins
The Hong Kong-owned retailer has lost 163,000 customer accounts since 2022, and its operating earnings before fair value movements fell 85.6 per cent last year, The Australian reported.
In its half-year results on 6 August, EnergyAustralia reported a net profit before fair value movements of $40 million for the first half of 2026. "Even as competition put pressure on customer numbers, our retail business delivered a stronger result," Managing Director Mark Collette said. He said the company expected "margin pressure to build in the second half".
The company said its partnership with Tata Consultancy Services had finished a first phase covering select back-office operations, and that the next phase focuses on "lifting efficiency across the business". It expects the work to deliver "a leaner, more resilient cost base".
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