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Dallas, Texas- The infrastructure consultancy business AECOM, which has its offices in downtown Dallas, announced on August 17 that it will relocate its corporate headquarters to Dallas effective October 1.
However, the corporation stated that its downtown Los Angeles headquarters would remain in operation, but that Chief Executive Troy Rudd and other senior officials will relocate to Texas. The number of executives who will be leaving was not specified in the announcement.
AECOM, which was established in Los Angeles in 1990 as a result of a combination of five architectural and engineering consulting firms, grew into a monster nearly a decade ago when it acquired consulting juggernaut URS Corp.
The engineering design business AECOM had $20 billion in yearly revenue and almost 90,000 global workers by 2017, making it the world’s largest engineering design firm in terms of revenue.
However, following a dispute with an activist investor hedge fund that was concerned about low margins and rates of shareholder return, AECOM was forced to sell off significant portions of its operations. By 2020, the company’s sales had dropped to $13 billion, and it had approximately 57,000 employees.
AECOM has had a presence in Texas for many years, and the company operates many locations there.
Although it has had a regional headquarters in Dallas for several years, the corporation relocated the regional headquarters to a different location within the city limits in 2017. AECOM’s global headquarters will be housed in that building going forward.
Rudd has made a number of daring decisions since taking over as CEO in August of last year, and this is the latest in a string of them. Rudd, who had previously worked as the company’s chief financial officer, announced a management restructure as soon as he assumed the position of chairman and CEO. Later in the month of December, he relocated the company’s headquarters from Century City to downtown, a move that can now be considered a short-term solution.
A total of more than 1,200 AECOM experts will work at the company’s existing Dallas office at 13355 Noel Road, Suite 400, as well as additional offices around Texas, according to Chief Executive Officer Troy Rudd and other corporate leaders.
According to AECOM, “While the North Texas region today provides AECOM additional benefits as a corporate hub and talent magnet for the engineering and consulting industry, both markets remain core to the company’s growth strategy”