On May 28, 2024, Lendlease Group announced that it will recycle A$4.5 billion (S$4 billion) of capital by exiting its overseas business and undertaking a A$500 million phased share buyback plan as part of a restructuring effort to cut costs. The Australian construction company aims to unlock the A$4.5 billion by exiting its international construction operations and accelerating payments from its offshore development projects. Lendlease intends to lower its cost base, targeting annual pre-tax savings of A$125 million, and return capital to shareholders through the share buyback program.

Chairman Michael Ullmer acknowledged the poor security price performance and security holder returns, attributing these issues to structural challenges and a prolonged market downturn. The company expects impairments and charges between A$1.15 billion and A$1.48 billion for fiscal year 2024 due to write-downs of goodwill from its US and UK construction businesses.