Westinghouse Electric has hired Weil Gotshal & Manges as the companys troubles threaten to push Toshiba, one of Japans most storied conglomerates, over the brink. The bankruptcy and restructuring specialist law firm was brought in after Toshiba wrote off about A$8.2bn last month because of Westinghouse, Reuters reported. The writedown pushed Toshiba into negative…
GoPro announced Wednesday that it was cutting 270 jobs to reduce its operating expenses and achieve profitability. The camera maker had 1,552 employees as of December 2016 according to its website, so the layoffs amount to about 17% of its staff. GoPro shares jumped by as much as 12% in after-hours trading following the news.…
Tata Motors, Indias largest automobile maker, has started rolling out a voluntary retirement scheme (VRS) for its employees as part of its organisational restructuring exercise. This is part of a human resources (HR) restructuring drive that is expected to transform the organisation into a much leaner company with a flat…
New Delhi: Tata Motors will offer voluntary retirement scheme to trim costs as part of restructuring although the number of employees is still being worked out. Reuters Tata Motors confirms that as part of the on-going organisation effectiveness project, where we have already finalised the top two levels (L1-L2) of our management structure, a proposal…
Moneycontrol News Gujarat Fluorochemicals added 4.4 percent intraday on Tuesday on buzz of the company undergoing a rejig to enhance shareholder value. The company plans to make the companys structure a simpler one, sources have told CNBC-TV18. The focus will be on restructuring the chemical business and remove the holding company discount. As part of the…
OAKLAND, Calif., March 13, 2017 /PRNewswire/ — Sungevity, Inc. (“Sungevity”), a technology-driven solutions provider, offering exceptional service and choice to residential and commercial solar energy customers, today announced that it has commenced voluntary Chapter 11 proceedings in U.S. Bankruptcy Court for the District of Delaware, in order to facilitate a financial and corporate restructuring to strengthen…
The North Sydney Bears are preparing a $7 million bid to take over the Gold Coast Titans and rejoin the NRL, according to a report in The Daily Telegraph. Bears officials have sounded the NRL out about the deal, after it took over the club when it went into voluntary administration in 2015. It is…
An Post is expected to seek the closure of more than 200 post offices and the co-location of many more to convenience stores in a radical restructuring plan. Stock image An Post is expected to seek the closure of more than 200 post offices and the co-location of many more to convenience stores in a…
News Sinead Moore 10 Mar 2017 05:00pm A round-up of some of this week’s appointments, promotions, board moves and resignations … Read the full article at: http://economia.icaew.com/en/news/march-2017/movers-and-shakers-march-10
(Repeats March 8 story for wider distribution. (For more Reuters DEALTALKs, click )) By Tatiana Bautzer SAO PAULO, March 8 (Reuters) – Brazil’s largest banks are increasingly demanding that companies put themselves up for sale as a condition to cut loan principal amounts, providing a jolt to an otherwise weak M&A climate in Latin America’s…