The restructure will see the centralisation of corporate functions that currently exist in both ASC's submarine and shipbuilding divisions.
Managing Director and CEO Steve Ludlam said the planned restructure would deliver significant cost savings to ASC's customers while maximising workplace efficiency.
"Given the size and importance of ASC's submarine maintenance and destroyer build programs, we are continually seeking ways to operate more effectively and use money more efficiently across our business," Ludlam said.
"We need to deliver value for money to our customer and to the taxpayer, and this restructure is all about ensuring that happens."
Ludlam said he had conducted an initial review of the ASC business since commencing in the Managing Director's role earlier this year.
"This is a critical time for ASC with the shipbuilding division moving into the construction phase," he said.
"The time is right to realise operational gains from bringing the two divisions together to ensure ASC is operating at world's best practice."
Ludlam has publicly stated previously that the company lacks a sense of urgency in their work, needs to foster a better relationship with their customer and significantly increase productivity.
ASC staff were informed of the restructure this week, with redundancies to be announced in the next two weeks.
Ludlam said a number of staff would be affected where overlap currently exists between the submarine and shipbuilding divisions, although that number is still to be determined.