CSL is taking a series of initiatives that will result in a net headcount reduction of up to 15% of its employee base and which includes changes to its R&D structure, operating model, and plasma network. The company has also announced plans to demerge CSL Seqirus, a provider of seasonal influenza vaccines.

“The long-term outlook for CSL’s therapies and vaccines remains distinctly positive, with multiple growth opportunities driven by increasing patient demand, unique competitive positions, and scalable platforms,” said Dr. Paul McKenzie, CSL’s Chief Executive Officer and Managing Director, in an August 19, 2025, statement. “After many years of significant growth, it is important that we stay committed to a winning strategy. So, with a sense of urgency, I want us to re-focus on our core strengths, lift R&D productivity, instill a lean and efficient mindset while at the same time optimizing our capital structure and removing complexity. In order to fully realize this opportunity, CSL is announcing a series of transformational initiatives that will further enhance clinical and commercial execution [while] reducing cost and simplifying decision-making across the organization.”

To execute its plan, one-off restructuring costs are expected to be approximately $700 million to $770 million (pre-tax) and $560 million to $620 million (post-tax), all to be recognized in Financial Year 2026. The initiatives are expected to drive annualized cost savings of $500 million to $550 million progressively over the next three years (as reported on August 19, 2025), with the majority achieved by the end of Financial Year 2027. CSL says it will look to balance the reinvestment of these savings in high-priority opportunities, with the need to deliver sustainable, profitable growth.

The restructuring plan includes a change to its operating model to enhance clinical and commercial execution with a new Portfolio Development and Commercialization operating model that will integrate R&D, Business Development, and Commercial teams. CSL Behring, focused on rare and serious diseases, and CSL Vifor, focused on iron deficiency and nephrology, will also combine medical and commercial functions to deliver further synergies and additional revenue growth opportunities. Corporate functions will be streamlined to align to the new operating model

In R&D, CSL says it will reduce the proportion of fixed costs in overall spend and implement initiatives to increase pipeline productivity, including consolidation of its R&D footprint. The savings will be directed towards priority programs and developing new disease targets from both internal and external sources.

In its plasma network, in August 2025, the company closed 22 underperforming centers, representing 7% of CSL Plasma’s US footprint.

CSL also announced its intention for CSL Seqirus, a provider of seasonal influenza vaccines, to be demerged as a substantial Australian Securities Exchange-listed entity before the end of Financial Year 2026. The company says a demerger will allow autonomy to set an independent strategic direction, including “capitalizing on potential opportunities that may arise in a highly dynamic vaccines market, as well as reducing complexity, making the business more agile and efficient to manage.”

The company will be chaired by Gordon Naylor, a company director and former President of CSL Seqirus.

The demerger will be subject to third-party consents, regulatory approvals and CSL will conduct a voluntary shareholder vote.

Source: CSL