Lendlease is slicing 10 per cent of its world workforce as the true property big works to implement a five-year turnaround plan.
A Lendlease spokesman on Tuesday confirmed the corporate will lay off about 740 folks.
Overseas staff will bear the brunt of the job losses, with 5 per cent of the corporate’s Australian employees receiving redundancies.
The spokesman declined to state how many individuals that will be in Australia, however added that an estimate of 300 home layoffs was a lot too excessive, and the majority of the reductions could be felt internationally.
“It’s never easy making decisions that directly impact our people,” world CEO Tony Lombardo stated in a press release.
“However, they’re absolutely necessary in order to generate more resilient returns for our security holders and sustainable careers for our ongoing workforce.”
The head-count reductions won’t impression challenge deliveries, targets for work in progress, completitions or funds underneath administration, Lendlease stated.
The firm is 2 years into Mr Lombardo’s turnaround plan.
Source: www.perthnow.com.au
