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4w ago

CSL to Cut Up to 3,000 Jobs, Spin Off Seqirus in Sweeping Overhaul

Management forecasts up to US$550 million in savings following a FY26 restructuring charge of up to US$770 million.

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CSL said it would redirect savings to “high priority opportunities”. Credit: ArDanMe via Shutterstock.com.
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Overview

  • CSL plans to reduce its global workforce by about 15%, or up to 3,000 roles, as it streamlines the business.
  • The company will close 22 U.S. plasma collection centers, with closures beginning in August 2025.
  • Influenza vaccine unit Seqirus will be demerged into a separately listed ASX company targeted for 2026, to be chaired by former unit president Gordon Naylor, pending required approvals and a shareholder vote.
  • CSL projects US$500 million to US$550 million in savings over three years and expects a one‑off FY26 pre‑tax charge of US$700 million to US$770 million, alongside a A$750 million share buyback.
  • Shares fell more than 15% after the announcement as investors weighed U.S. tariff threats and shifting vaccine policies that have pressured the U.S. market.