By Sabela Ojea Mativ is putting in place a restructuring plan to reduce costs by $40 million by the end of 2026 as it reorganizes its business structure and lays off senior employees. The specialty materials company on Wednesday said the cost-cutting plan will help it increase cashflow and reach mid-teen earnings, before interest, taxes,…
Jason DeJonker, partner at Seyfarth Shaw LLP (Photo: Business Wire) Scott Olson, partner at Seyfarth Shaw LLP (Photo: Business Wire) Richard White, partner at Seyfarth Shaw LLP (Photo: Business Wire) Corporate partners Jason DeJonker, Scott Olson and Richard White join in Chicago, San Francisco and Atlanta CHICAGO, January 24, 2024–(BUSINESS WIRE)–Seyfarth Shaw LLP continues the…
Sportradar Chief Finance Officer Gerard Griffin and Chief Strategy Officer Ulrich Harmuth are leaving the company, according to a Wednesday morning announcement, which also detailed a restructuring of its business. The sports data companys stock (Nasdaq: SRAD) was relatively flat when the market opened Wednesday. Griffin, who joined Sportradar less than a year ago, is…
One of Europes biggest tech companies is restructuring 8,000 jobs in an effort to shift their focus to AI. ADVERTISEMENT SAP shares jumped more than 9% on Wednesday and hit record levels after the software giant announced restructuring plans affecting thousands of jobs, as the company prepares for generative AI to fundamentally change its business.…
ublicly listed state-owned construction firm PT Wijaya Karya (WIKA) secured a debt restructuring deal worth Rp 24.2 trillion (US$1.54 billion) with 11 financial institutions through a master restructuring agreement (MRA), the company said in a statement released on Wednesday. The agreement covered 87.1 percent of WIKAs restructured debt, the company said, and was a step…
(Bloomberg) SAP SE shares jumped the most in more than three years after the German software company said its planning a restructuring that will affect about 8,000 jobs and increase its focus on artificial intelligence. The company projected that operating profit would rise to roughly 10 billion ($10.9 billion) next year as result. Most Read…
Hong Kong CNN One of Europes most valuable companies is restructuring 8,000 jobs as it joins a growing list of firms shifting their focus to artificial intelligence. SAP (SAP), the enterprise software giant, announced Tuesday that it would spend 2 billion ($2.2 billion) this year on the transformation, including buyouts and retraining programs. The…
German software giant SAP has announced a company-wide restructuring plan to increase its focus on artificial intelligence, a move expected to cost $2.2 billion and affect 8,000 jobs. “In 2024, SAP will further increase its focus on key strategic growth areas, in particular Business AI,” SAP said in a statement Tuesday, adding that it aims…
(Bloomberg) — SAP SE is planning a restructuring that will affect about 8,000 jobs and increase the German software makers focus on artificial intelligence. The company projected that operating profit would rise to roughly 10 billion next year as result. Most Read from Bloomberg As part of the restructuring this year, SAP said it will…
:German software firm SAP SE unveiled a 2 billion euro ($2.17 billion) restructuring plan covering 8,000 roles on Tuesday, as it seeks to better focus on growth in artificial intelligence (AI)-driven business areas. SAP expects generative AI to fundamentally change its business and has pledged to invest more than $1 billion, while opening new tab…