CH2M Hill is to cut around 1,200 jobs in a major restructure.
The move will reduce the company’s total workforce by about 5% (about 1,200 people out of about 26,000 worldwide).
The company said the restructuring aimed to gain over $US100M (£62.6M) in operational efficiencies, and to “achieve important business objectives, including enhancing client service, improving efficiency, reducing risk, creating more opportunity for profitable growth, and providing more long-term value for its stockholders”.
CH2M Hill said its corporate structure and overhead had grown in recent years “in anticipation of a future state that did not materialize. In response, the company is right-sizing its overhead structure in all global operating units to align with the company’s strategy”.
It is offering a voluntary retirement programme for eligible employees in the U.S.
CEO Jacqueline Hinman (pictured) said: “From time to time, good companies adjust their businesses to the needs of their clients, their markets, and their aspirations. We’ve done this ourselves many times over the years.
“We’re staying true to our values, and channeling the courage and passion our founders had for building a unique company, run by its employees, into the work ahead so we can continue to deliver on our purpose: to lay the foundation for human progress by turning challenges into opportunities.
“We continue to win significant new work and deliver excellent work for our clients every day. We intend to retain our industry-leading position and provide long-term, sustainable growth that benefits our clients, employees and stockholders.”