Transurban Group (ASX:TCL) will be cutting 300 jobs to save over AU$50 million in annualized savings, according to a Thursday Australian bourse filing., according to a Thursday Australian bourse filing.
A part of these savings will be re-allocated into areas of customer-facing and operational technologies, the filing said.
The expenses related to the job cuts will be accounted for in its full fiscal year results and will be excluded from proportional operating earnings before interest, tax, depreciation, and amortization.
The company has reiterated its fiscal year cost and distribution guidance.
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