Picture: Getty/Chris Hyde
Construction company Lend Lease just announced a major restructure that will see the consolidation of its four Australian divisions.
From August 1 this year, the Abigroup, Baulderstone, Project Management & Construction and Infrastructure Services businesses will be rolled into a new-look operation catering to three sectors: building, infrastructure and services.
Company spokesperson Georgie Morell told Business Insider it was too early to speculate on how many jobs would be lost, though support positions were likely to be cut where there was duplication.
“This is about building a stronger business for the future. There will be some job changes,” she said.
“It [job cuts] will be in the support functions.”
While construction in Australia has experienced a soft patch, Morell said the news should be well-received as it would make the business more efficient and stronger.
“The tender process alone will be far more effective,” she said.
Any changes to branding, as well as further information on the restructure will be available in an announcement planned for August 1.
Lend Lease said its changes would make the businesses more effective and competitive, and would enable skills and expertise to be leveraged better.
“The transition will increase our capacity for growth and facilitate more robust end-to-end client solutions,” said Lend Lease boss Steve McCann in a statement released to the market.
Lend Lease’s Australian construction and infrastructure leaders, chief executive David Saxelby, chief operating officer Dale Connor and chief financial officer Andrew Muller will lead the changes.
This morning Lend Lease also revealed it had sold a 25% equity interest in a retail and office asset in Singapore for $189 million.