WorleyParsons Limited (ASX:WOR) has launched a $35 million restructure to simplify the corporate structure following a review of its operations.
The professional services company says the changes are geared to improving delivering and offering a more competitive value proposition for customers.
Under the changes WorleyParsons will reorganise the business into three divisions called Services, Major Projects and Improve.
The company also plans to reduce the level of corporate overheads, and says the financial impact of the changes will be recognised this financial year.
WorleyParsons reported a net profit of almost $120 million in the first half of the 2014 financial year.
