BT will cut 4,000 jobs as part of a £300m corporate shake-up of its overseas operations, the telecoms giant announced this morning. The firm’s Global Services division has been a thorn in the side of the telecoms giant, with two mammoth accounting scandals over the last 10 years. The latest, a £530m blackhole unearthed in…
In a chat with ET Now, Chintan Lakhani, India Ratings & Research, says expecting positive impact on REITs issue and following InvIT issues which are expected to come. Edited excerpts: Can you walk us through as to how InvITs are going to help deleverage the infrastructure companies balance sheets? Our report covers infrastructure InvITs, the…
The company logo for BT is seen on the BT Tower in London Thomson Reuters LONDON (Reuters) – BT said on Thursday it would cut 4,000 jobs in its Global Services unit that serves multinationals and scale back its dividend growth ambitions in a drive to recover from an accounting scandal and a profit warning.…
CJ O Shopping engaging in the home shopping business in nine countries with 11 overseas subsidiaries is going to perform massive surgery on non-performing overseas subsidiaries. Some of them will be liquidated. CJ O Shopping was considering a restructuring of its Nanfang CJ in Guangzhou, China, CJ Mediasa in Turkey, Shop CJ in India, and…
Parexel International Corp., a research organization that does subcontracting work for biotech companies, plans to cut between 1,100 and 1,200 jobs worldwide in an expansion of a restructuring plan the Waltham-based business announced in January. In a May 4 regulatory filing, Parexel didnt specify how many of the anticipated job cuts will be in its…
Commerzbank beat analysts expectations in the first quarter as a one-off gain papered over the continuing struggles of its core business. In the three months to the end of March, Commerzbanks net income came in at 217m, up 28 per cent from 169m in the same period a year earlier. Analysts had expected the bank,…
Inland Revenue begins staff consultation on restructuring plans. Photo / Paul Estcourt Inland Revenue has started consultations on plans to slash its workforce and begin restructuring. Last year IRD revealed plans to cut 1500 staff between 2018 and 2021 as part of a cost-reduction and modernisation programme. The Herald understands staff meetings were held today…
By Jessica DiNapoli and Lauren Hirsch Canada’s Hudson’s Bay Co has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group, according to people familiar with the matter. The move is the clearest indication yet that Neiman Marcus’ $4.7 billion debt pile poses…
Great-West Life today announced further restructuring to its advisory channel organization. The new structure includes three distinct individual advisor networks, and a wholesaling organization that together will improve efficiency, modernize our approach to distribution and help fuel future growth, said Nick Pszeniczny, Great-West Lifes Executive Vice-President, Advisory Network. Going forward, the companys three individual advisory networks are: Wealth…
Westpac’s interim result confirms that Australia has entered a new era in corporate lending with a shift from long-term relationship banking to aggressive hedge funds and bondholders. This has significant long-term implications for the corporate sector. But the effects of this change are not likely to be felt acutely until there is a downturn in…