Coca-Cola announced on Friday a workforce restructuring plan that will include voluntary job cuts. Shares of the beverage giant, which has a market value of $210 billion, rose 1% in premarket trading. The stock has fallen 12% this year. Coke said it will offer voluntary layoff packages to employees who qualify, starting with about 4,000…
As a result of the severe impact of COVID-19 on the airport, Gatwick Airport will undertake a major business restructure, putting roughly 600 jobs at risk. London Gatwick Airport (LGW) has announced plans for a significant restructure across its business, designed to further reduce operating and staff costs in light of the dramatic impact that…
By Wayne Robinson | 28 August 2020 Heatset print giant Ovato suffered a $130m hit on its sales revenue in the 2019-2020 financial year, as catalogue and publication paginations plummeted.The company’ssales fell by 19.4 per cent to $539m, down from $669m in the prior year, as Covid tore through its clients. Happier times: Michael Hannan…
Crystal Cruises proud boast was that it was the most awarded luxury line. This week, it announced a preview of the deployment for the all-suite, 62-guest Crystal Esprityacht for 2023 and through to the first quarter of 2024. It includes 35 all-inclusive luxury sailings in 2023, and 11 idyllic sojourns through the Seychelles islands and…
Date: 28.08.2020 Profit hike from lower revenues follows restructures, government subsidies The company has overseen operational changes in the past 12 months The winds of change have swept through K&S Corporation, with vast restructuring delivering a much different outlook on recent years. Last year it reported its annual net profit fell 86.4 per cent to…
Financial institutions should help the beleaguered tourism industry by alleviating operators’ debt service burden for three years and encouraging businesses to maximise capability for a future revival, says a former tourism and sports minister. “If we believe Thai tourism still has a future, such a policy is essential,” said senator Weerasak Kowsurat. “We hope that…
Pret a Manger has announced it axed 2,800 roles from its shops after completing a restructuring of its business in the UK. The coffee and sandwich chain, which once boasted more than 450 sites across the UK with the majority focussed in London, has struggled for footfall in the wake of the coronavirus pandemic with…
Telkom Kenya revealed a number of new strategic focus areas as part of a business restructure being conducted in the wake of a decision to call off plans to merge with rival Airtel Kenya earlier this month. In a statement, Telkom Kenya CEO Mugo Kibati outlined the companys future plans, as part of a long-term…
The AFLs restructuring of its operations will see a change of management at Melbournes Marvel Stadium with the Docklands venue to become wholly integrated into the AFL structure. Prompted by an expected $400 million loss of income this year due to Coronavirus pandemic and anticipatingfuture financial challenges, the AFL has ended the independent management of…
ROLLE, Switzerland–(BUSINESS WIRE)–Garrett Motion Inc. (NYSE: GTX), a cutting-edge technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, today announced that, with the assistance of its financial and legal advisors, it is exploring alternatives for addressing its previously disclosed balance sheet concerns. On June 12, 2020, Garrett entered into an…