Lendlease to cut 740 jobs globally

Image credit: Lendlease

Property giant Lendlease has announced that it will cut 740 jobs globally, with the majority of cuts taking place overseas in America, Europe and the Asia Pacific.

The figure represents roughly 10% of Lendlease’s workforce, achieving savings of $80 million to $100 million, according to figures quoted in The Sydney Morning Herald. It’s expected that approximately 5% of the Australian team will be cut.

Lendlease initiated a hiring freeze on 1 July in line with a push from CEO Tony Lombardo to shift the business into being a predominately investment-led company.

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