Ventia has told staff across the company that its restructure will bring redundancies from 1 December, a person at the company told The Aussie Corporate.
The person said staff were told after the announcement had gone to shareholders. Ventia released its plan to the ASX on Monday morning, and the new structure takes effect on 1 December.
What Ventia told the ASX
In its release to the ASX and NZX on 9 November, the infrastructure services company said it would "reduce the number of operating sectors and streamline its corporate functions and shared services", with the new structure "effective 1 December 2026". Its operating sectors become three, named Defence and National Resilience, Energy and Digital Infrastructure, and Water, Transport and Social Infrastructure.
"The initiatives announced today are expected to deliver annualised cost savings of at least $60 million by December 2027," the release said. Ventia expects about $30 million in one-off implementation and discontinued project costs, "including a restructuring provision in the FY26 results".
Managing director and chief executive Mark Ralston, who started on 1 September, said Ventia would be "simplifying how we operate" and would "execute with greater pace, discipline and efficiency".
Why staff heard after shareholders
That order is set by the ASX. Listing Rule 15.7 says a listed company "must not release information that is for release to the market to any person" until it has given the information to the ASX and the ASX has released it to the market. Any person includes the company's own staff, so news that can move the share price goes to the ASX first.
What the market did
The release also said group revenue in the second half of FY26 is expected to be below the same period a year earlier, as expected work in Telecommunications and Energy was deferred. Ventia still expects underlying NPATA growth of 7 to 10% in FY26, excluding the one-off restructuring costs.
Ventia shares fell 16.23% to $4.80 on Monday, the worst performer in the ASX 200 that day, The Bull reported.
What we don't know
The release does not use the word redundancies. It does not say how many roles will go, which teams or sites will lose them, or what redundancy terms will apply. Ventia has a combined workforce of more than 35,000 people across more than 400 sites in Australia and New Zealand, the release says.
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