:Germany’s SAP SE on Tuesday announced its plan to carry out a company-wide restructuring covering roughly 8000 employees, and also provided its revenue outlook for full-year 2024. The business software maker said it forecast 2024 cloud revenue at 17 billion euros ($18.45 billion) to 17.3 billion euros and also updated its 2025 outlook forecasting adjusted…
Air Belgium (KF, Brussels Charleroi) has been given another four months to reach an agreement with its creditors under its process of court-led restructuring (Procdure de Rorganisation Judiciaire – PRJ), the company said in an internal document to its employees seen by local media. When Nivelles Commercial Court near Brussels approved Air Belgiums request to…
Two mountain bike manufacturers in West Yorkshire have gone into administration. Orange Mountain Bikes and P Bairstow employed more than 40 staff with administrators from BDO are working to complete a sale of the business and assets. Founded in 1988, Orange Mountain Bikes manufactures bikes and sells on to retailers, as well as directly to…
Grant Thornton has brought in former Big Four senior and banker Imran Jaffer to lead its Financial Restructuring Advisory practice in the United Arab Emirates. Appointed a partner in the Restructuring Advisory practice, Imran Jaffer brings over 20 years of experience in financial advisory services to Grant Thornton, with a focus on financial restructuring, distressed…
Street Talk Jan 22, 2024 4.40pm Theres nowhere to hide at embattled Panthera Finance. Street Talk can reveal a crack team of accountants has landed at the debt collection outfit to clean house. PwCs corporate restructuring team is on the case, sources said. It is believed the firms remit is to slash headcount, optimise operations,…
Warren Buffett told Citigroup Chief Executive Jane Fraser over lunch to keep going in her massive cost-cutting corporate restructuring campaign, Reuters reported Friday. Fraser told the anecdote of the business magnates approval at the end of a conference call with managing directors on Thursday, in which she detailed the coming reductions to the bank’s headcount,…
By Christian Moess Laursen Tata Steel said it expects up to 2,800 employees will be affected by a restructuring of its U.K. business as it seeks to reverse more than a decade of losses and transition to a sustainable steel business from the legacy blast furnaces. The Indian multinational steel-making company said Friday that around…
Tata Steel Ltd. has announced the restructuring of its UK business and has initiated statutory consultations for the same. Under this restructuring exercise, up to 2,800 employees are expected to be potentially affected, out of which, 2,500 roles will be impacted in the next 18 months. The remaining 300 roles could be impacted in three…
January 18, 2024 Gibson, Dunn & Crutcher LLP is pleased to announce that Lisa Stevenswho was an associate at the firm from 2011 to 2015 will rejoin the firm as a partner in its Business Restructuring and Reorganization Practice Group in London. Commenting on the addition, Scott Greenberg, Global Chair of Gibson Dunns Business Restructuring…
The layoffs plaguing the tech sector have hit YouTube. The streaming video platform will cut about 100 roles as part of a restructuring of its content teams. YouTube chief business officer Mary Ellen Coe announced the changes in a memo Wednesday, and a spokesperson for the platform confirmed them to The Hollywood Reporter. More from…