Transurban to cut office jobs in Melbourne, Sydney, Brisbane and the US, saving $50m
One Australian city will bear the brunt of a 300-strong jobs cut by national toll road operator Transurban, which says it will save $50m as staff are tapped on the shoulder from Thursday.
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Melbourne staff of toll road operator Transurban will bear the brunt of its 300-strong jobs cull, with staff in Sydney and Brisbane also set to be called into managers’ offices from Thursday.
Shares in the group, which operates 22 roads Australia-wide, lifted 18c to $14.48 by 11am after it announced the cuts would create $50m in annualised savings.
The company is still expecting to pay shareholders a 65c dividend for the financial year.
Its understood half of the cuts will come from the group’s Melbourne head office, with about another 75 people to go from Sydney.
The remainder of the cuts would be made from Transurban’s Brisbane CBD office and from its operations in North America.
Mostly white collar roles are facing the chopping block, with traffic control, safety, maintenance and construction jobs unaffected.
In Melbourne, Transurban operates Western Link M2, Bolte Bridge, CityLink Southern Link M1 and the Domain and Burnley tunnels.
It’s also working on the West Gate Tunnel, west of the CBD.
It also operates most of Sydney’s major toll roads, including M2, M4, M5, M8, and NorthConnex routes, and is working on the M7-M12 integration in Western Sydney.
In Brisbane, the group operates six toll roads, including the Airportlink M7, M5, Clem7 tunnel Gateway and Logan motorways, Inner City Bypass and Go Between Bridge.
It’s also major sponsor of the annual Sunday Mail Bridge to Brisbane fun run and Herald Sun Run for the Kids in Melbourne.
Ongoing projects in Melbourne and Sydney would not be impacted, the company said.
In a statement to the ASX, CEO Michelle Jablko said the changes followed a workforce review last year and would enable the company to redirect funds into growth opportunities and customer value.
“Transurban remains focused on safety, strengthening government partnerships, investing in customer value and laying the foundations for long-term growth,” she said.
“Our immediate priority will be to manage this process as quickly and as sensitively as possible and provide support to those impacted by this decision.
“Building on the work we have already commenced, there will be a continuation of investment in customer facing and operational technologies to improve the overall experiences of our customers and our operational effectiveness.
“This will be a core focus for us as we pursue our pipeline of growth opportunities.”
Staff payout and related costs of the staff cut will impact the company’s FY25 result, the statement said.
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