Opus International Consultants, the listed engineering firm, has trimmed its executive team as it restructures its business “in an increasingly competitive market”.
The Wellington-based company will shrink its leadership team to eight from the existing 12, retaining its chief executive, chief financial officer, four country managing directors, director of business development and growth, and the company secretary, without saying what jobs were going.
The changes are effective immediately.
“The new structure is oriented to an increasingly competitive market and is designed to increase efficiency and profitability,” chief executive David Prentice said.
According to its 2013 annual report, Opus previously had a chief technical officer, Sulo Shanmuganathan, a director of organisational development, Mike Eagle, a director of information management and technology, Richard Croad, and director of service excellence, Ben Holland. None of these positions or names featured on Opus’s website on Thursday.
Last month, Opus embarked on a review of operations after flagging the loss of an undisclosed project would weigh on profit margins and cost it $5.5 million in the year.
First-half margins were squeezed by the loss on a project and bidding costs of $1.9 million, and those costs were expected to rise to $5.5 million in the full financial year.