Wei ZhangFinance
National Australia Bank to Cut 2,500 Jobs as Lending Slows
A pre-tax restructuring charge of A$300 million in 2027 will cover redundancy costs as Australia’s largest business lender trims 6 percent of its staff.
Tag
restructuring
Every story tagged restructuring on RetailNews Asia: reporting, analysis and market signals from across Asian retail and e-commerce.
Stories tagged restructuring
17 stories in this topic
Aiko TanakaLogistics
Air India Sets up Cost-Cutting Team After Posting US$2.3 Billion Loss
Chief executive Tewolde Gebremariam has tightened internal spending approvals and sought aircraft delivery deferrals after the carrier posted a US$2.3 billion annual loss.
Sarah ChenLiving
Record-Breaking 5-Year High: Q2 Layoffs Surge in Singapore Amid Business Restructuring
Between April and June of this year, Singapore experienced a significant wave of layoffs, with approximately 4,500 workers losing their jobs. This figure represents the highest rate of retrenchment in over five years, showing a 17% increase from the prior…
Wei ZhangFinance
Commerzbank to Slash 3000 Jobs by 2030, Boosts Profit Forecast Amid Restructuring Plan
In an effort to reassure shareholders of its sustainability as a standalone entity, Commerzbank has unveiled a strategic plan that includes significant job reductions and lofty profit goals. The blueprint, which was shared last Friday, anticipates a layoff of…
Sarah ChenFashion
Lanvin Takes Strides Towards Stability in Q2 Despite Falling Sales: The Power of Restructuring Examined
In the words of Zhen Huang, Chairman, Lanvin experienced a steadier second half following a tumultuous year where restructuring efforts started to show promise. Sales for the brand itself, however, observed a downturn of nearly a third. The Current Economic…
Sarah ChenFashion
Cotton On Group Dissolves Inactive Singapore Entity in Strategic Asian Restructuring Move
The Australian fashion retail giant, Cotton On Group, has announced the shuttering of its regional division, Cotton On Asia. This decision comes in the wake of a resolution passed by shareholders that approved the winding up of the business and the…
Minjun ParkFashion
Misto Holdings Boosts Q4 Sales Amid US Business Restructuring: Fila & Acushnet Show Strong Performances
In the fourth quarter, Misto Holdings, the parent company of Fila, Titleist and FootJoy, announced an increase in sales growth following a restructuring of its U.S. operations. The firm, based in South Korea, saw a 6.3% year-on-year boost in revenue during…
Rajiv MenonFinance
Hang Seng Bank Axes Jobs in Restructuring
Hang Seng, a Hong Kong-based lender backed by HSBC, is preparing to make adjustments to its workforce as part of a wider restructuring plan and a move to incorporate more technology into its operations. Workforce Reduction The company has announced that it…
Minjun ParkLiving
Yeah1 to buy TV firm amid restructuring
Online entertainment company Yeah1 plans to buy a 51 percent stake in TV and radio company STV amid a major restructuring endeavor. The deal is set to be completed this quarter. STV, established in 2008, owns lifestyle TV channel StyleTV, stock and finance…
Minjun ParkFinance
Tencent Ordered to Restructure Financial Units
Similar to rival Ant Group, Tencent has also been ordered to set up a holding company to contain its finance-related businesses. Regulators told Tencent to place its finance-related businesses into a new financial holdings company for better supervision,…
Aiko TanakaGeneral
Thai Airways Is On Track With Its Rescue Plan
Thai Airways acting president Chansin Treenuchagron claims the airline is still on schedule with its debt rehabilitation plan. Thai Airways has until February 2nd to submit its plan to the Central Bankruptcy Court in Thailand after it was granted a one-month…
Maria SantosGeneral
Founders of Google announce a major corporate restructuring
Today, Larry Page and Sergey Brin, the co-founders of Google, announced that they would step down from their respective roles in Alphabet Inc., the parent company of the world’s largest search engine. Continuing forward, current Google CEO Sundar Pichai will…
Minjun ParkFinance
UBS to Restructure Investment Bank
UBS is going to revamp its investment banking unit along the lines of a wealth management business. The goal is to make the unit leaner and more global. Piero Novelli and Rob Karofsky are about to unveil their plans for a revamp of the investment banking…
Rajiv MenonGeneral
Coles partners with Accenture to cut costs
Coles is powering ahead with plans for a more digitally-focused future by signing a long-term agreement with global technology services company Accenture. The partnership is part of Coles’ Smarter Selling initiative which is hoped will cut costs to the tune…
Maria SantosLiving
Toys R Us calls in restructuring advisors
Toys R Us has appointed restructuring advisors as it struggles under a debt burden, suggesting it may be about to trim its store network. Neil Saunders says while the decision is not necessarily a sign of imminent bankruptcy, it is an indication the company…
Rajiv MenonFood
Coca-Cola to restructure company and cut costs
Coca-Cola’s sales declined in the first quarter as it restructured its business, and the world’s biggest beverage maker said it will cut 1,200 jobs starting later this year as it deepens its cost-cutting. The maker of Fanta, Sprite and Smartwater said the job…