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Highlights

  • Around 300 roles will be cut as part of a broader workforce review aimed at streamlining operations.

  • The restructure is expected to deliver over $50 million in annualised cost savings, with some funds redirected to growth initiatives.

  • FY25 distribution and cost growth guidance remain unchanged, reaffirming the company’s financial stability.

Transurban (ASX:TCL) has announced a significant organisational restructure aimed at enhancing operational efficiency and supporting the company’s long-term growth agenda. The move follows changes made to the company’s operating model in May 2024 and comes after a detailed workforce review conducted in the months since.

As part of the reshaping effort, approximately 300 positions across the business will be made redundant. Transurban has emphasised that this transition will be managed with sensitivity and support for those impacted.

The restructure is designed to make Transurban a more agile and focused organisation, allowing the company to reallocate capital and resources more effectively.

One of the key outcomes of the review is a shift in investment focus. The company plans to continue strengthening customer-facing and operational technologies that improve both user experience and the efficiency of its toll road network. .

The changes are expected to generate more than $50 million in annualised cost savings. A portion of these savings will be reinvested into areas identified as critical for long-term success, particularly technology and customer service enhancements. The remaining savings will contribute to a leaner cost structure.

Transurban confirmed there will be no change to its FY25 distribution guidance, which remains at 65 cents per security. Additionally, the company reiterated its cost growth target, maintaining a goal of keeping operational costs below inflation for the financial year.