Lend Lease consolidates, up to 300 jobs to go
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In a late notice to the ASX, Mr McCann's remuneration package has been restructured to increase the emphasis on long-term incentives, with a related reduction in short-term incentives.
The new arrangements provide for fixed remuneration of $2.03 million, which includes superannuation and any salary-sacrifice item.
Lend Lease is due to announce its full-year results on Friday. In June, Mr McCann flagged profit of $540 million to $550 million for the full year.
At that time, Mr McCann said the restructuring of its Abigroup and Baulderstone subsidiaries would see duplication in jobs.
"As a result of the restructure of Lend Lease's Australian construction and infrastructure businesses, there will be some redundancies among salaried staff," a company spokesman confirmed on Thursday. "This process will be carefully managed and will be respectful of the people concerned. We will, of course, examine every opportunity for redeployment."
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