Turner Asia Announces Restructure

HONG KONG: A reorganization of Turner International’s Asia Pacific operations will result in a 30-percent reduction in positions across the region as the company moves to create a "leaner" structure.

The reorganization will decentralize of a number of functions from the Hong Kong headquarters. It follows a two-month review undertaken with PwC. The reduction in open positions includes vacant posts that have not been filled, redundancies and outsourcing. The aim, the company says, is to create a more efficient, less bureaucratic structure that will give greater authority to local management teams in South Asia, Southeast Asia Pacific and North Asia.

“This restructure is a tough but absolutely necessary process to best position Turner Asia Pacific on the path for future growth towards our ambitious long term goals to double annual revenues by 2020,” said Steve Marcopoto, the president and managing director of Turner International Asia Pacific.

“We are most grateful for the service and commitment of those employees directly affected and will work to ensure that they are offered appropriate support through the transition and to find new opportunities."