Professional services company WorleyParsons announced a reorganization of the company’s business as part of an in-depth review of operations.
“With the reorganization we are announcing today we are aligning the business to market conditions. It will simplify the corporate structure, reduce overhead costs and enable our staff to deliver greater customer satisfaction. The reorganization is expected to improve major project performance , deliver sustainable growth in earnings and enhance returns to shareholders,“ Chief Executive Officer Andrew Wood said.
WorleyParsons will reorganize into three business lines – Services , Major Projects, and Improve – to provide better customer focus and delivery. The company will also reduce the level of corporate overheads to establish a more competitive cost structure for business lines. Under the changed structure , Services will continue to provide the company’s service offering, including consulting, delivery and Improve, with local offices focused on winning and delivering services to local customers and the local operations of the company’s regional and global customers.
Services represents approximately 70 per cent of WorleyParsons’ current aggregated revenue. Major Projects and Improve will each address the specialist needs of their customers, with appropriate delivery and support models. Major Projects will be responsible for winning and leading the execution of large or complex projects wherever they are in the world supported by dedicated major project execution centers. Improve will be responsible for the leadership and execution of nominated long term operational and asset management contracts, as well as winning new contracts. All other operational and asset management contracts will be managed by Services.