Topic
14 stories in this topic
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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…
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…
Nokia has announced a restructuring of its mobile unit into two groups, focused on mobile networks and services respectively, in response to the planned departure of the company’s current mobile networks chief. The company said it will establish two units…
