In his first big move as Managing Director of Toll Group, Michael Byrne has announced a major restructure of the company’s workforce, to make Toll ‘leaner’ and more competitive – the result of a strategic review Toll undertook looking at the company’s readiness for growth.
“The business is simplifying the number of operational divisions from five to three aligning with core segments in Global Express, Global Forwarding and Contract Logistics, which will form the executive team,” the company said in a statement.
Byrne said, “This is a great company, with a proud history and tremendous potential.
“However, our industry is rapidly changing and faces significant challenges; Toll must adapt, quickly.
“Our 100-day review of the business has highlighted clear markets and opportunities to deliver on our priority to drive organic growth, as well as the need to make some tough calls to reduce complexity and overhead costs.
“As a result of the changes, Toll expects that approximately 1,700 roles will be impacted globally, including back office and operational roles,” he added.
“This is a tough decision that has not been taken lightly.”
Byrne added that Toll will fully support employees impacted by these changes, including offering redundancy entitlements, redeployment opportunities where available and career transition support.
“The restructure I am announcing today will transform Toll into an organisation that is leaner, more competitive and more customer-focussed,” he said.
The Financial Times shared a comment from Japan Post on the move: “We are confident that the implementation of the reforms that have been decided by the new management team will contribute to Toll’s future growth.”