** Shares of Transurban TCL.AX rise as much as 1.8% to A$14.56, their biggest intraday pct gain since April 14

** The toll road operator, as part of its broader reforms for organisational changes, says that it would lay off about 300 people from its business

** Co expects annualised cost savings to be greater than A$50 million ($32.17 million)

** YTD, shares up 8.3%

($1 = 1.5542 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))