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Downer EDI boss pledges ‘first-grade’ governance after $386m loss

Summary by Ground News
Downer wants to lift its group profit margins from 2.6 per cent to at least 4.5 per cent by fiscal 2025. It is getting rid of 400 full-time jobs by the end of the year and using more software in back-office jobs that involve processing payrolls and dealing with supplier invoices. Downer has been selling off underperforming operations, including its minerals processing unit, MinTech.

1 Articles

Australian Financial ReviewAustralian Financial Review
Lean Right

Downer EDI boss pledges ‘first-grade’ governance after $386m loss

The troubled contractor has put a former Lendlease executive in charge of risk management as it tries to get back into the black.

·Sydney, Australia
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Australian Financial Review broke the news in Sydney, Australia on Wednesday, August 9, 2023.
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