Lend Lease (ASX: LLC) announced today that it is restructuring several of its Australian business units to allow for more effective and competitive operations. According to a press release, the corporation will consolidate its Abigroup, Baulderstone, Project Management & Construction, and Infrastructure Services businesses into sector-based divisions. The restructure will take effect in August, and will divide current units into building, engineering, and infrastructure services.
"The combination of core skills in each of these organisations will result in best-in-class delivery capabilities," said CEO and Managing Director Steve McCann in a statement. "We will have businesses that compete for the leading market position against our external competitors in each of the… sectors."
In addition to an increasingly competitive external design, Lend Lease expects its new structure to lend itself to greater leverage skills and expertise, improved operational systems, and increased efficiencies. Telstra (ASX: TLS) underwent a similar restructure in May, when it announced a major consolidation of its staff under a new Canberra Headquarters location, a major step in the company's larger strategy to cut costs and improve internal communication.
According to Lend Lease, the exact branding of these new businesses will be announced following stakeholder consultation in June and July.
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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.
