Transurban to axe 300 jobs in organisational restructure

The news: Toll roads giant Transurban plans to cut around 300 jobs as part of an organisational restructure following an internal review.

The numbers: The company has estimated cost savings of $50 million a year as a result of the organisational changes.

The context: Transurban announced a new operating model in May 2024, and said it had since undertaken a comprehensive workforce review that identified areas to streamline operations across the company without compromising safety and operational excellence. While the changes would make Transurban a more efficient and effective organisation, they would result in approximately 300 people leaving the business, CEO Michelle Jablko said.

The company said the associated provision and expense of implementing these changes will be accounted for in the FY25 results but excluded from proportional operating earnings given their one-off nature. It also reaffirmed full-year distribution guidance of 65 cents per security, and said underlying cost growth guidance of “targeting a below inflation cost outcome for FY25” also remains unchanged.