UK High Street stalwart Marks and Spencer is to cut hundreds of jobs as coronavirus continues to hit trading. The retailer said 950 store management and head office jobs were at risk because it needed to accelerate its restructuring. A spokesperson said the move marks “an important step” in it becoming a “stronger, leaner” business.…
Air Serbia has commenced intensive communication with special purpose vehicles set-up by Etihad Airways in 2015 called Etihad Airways Partners I BV and Etihad Airways Partners II BV, over the restructuring of its multi million dollar debt. The carrier previously informed the funding vehicle that due to the financial strain caused by the coronavirus Covid-19…
July 20, 2020 02:00 ET | Source: TECHNICOLOR multilang-release PRESS RELEASE The shareholders general meeting has approved the financial restructuring plan Implementation of the first tranche of the New Money facility for an amount of c. 240 million Paris (France), 20 July2020 Technicolor (EuronextParis: TCH; OTCQX: TCLRY) announces that, on the basis of information received,…
Up to 750 jobs could go in the proposed restructure of The Warehouse, the company’s chief executive officer says. Photo: RNZ / Nate McKinnon Staff were called to an 8am meeting today to hear the company’s plans. In a statement, chief executive officer Pejman Okhovat said the restructuring will mean cutting 500 to 750 jobs.…
TOT reworks management divisions Merger with CAT looms in January A man enters TOT headquarters on Chaeng Watthana Road. The state telecom plans to position itself as an infrastructure sharing provider. PATTARAPONG CHATPATTARASILL State telecom enterprise TOT plans to cut almost one-third of its 83 divisions and reduce its existing senior executive vice-president (SEVP) positions…
The Warehouse is holding meetings at its stores on Monday morning after consultation about proposed job losses and store closures. More than 1080 jobs are expected to go as part of major restructure across the Warehouse Group that could result in at least six store closures. The Warehouse Group, which owns The Warehouse, Warehouse Stationery,…
G-Star has more than 2,000 employees worldwide Dutch clothing company G-Star Raw is restructuring in a move set to affect 10% of its global workforceas the impact of the Covid-19 pandemic continues to weigh on the business. The firm employs more than 2,000 people worldwide and says 150 of the affectedjobs arein the Netherlands where…
Thousands of sackings at Australian universities By Eric Ludlow17 July 2020 The Group of Eight, comprising Australias elite public universities, has projected that 6,700 jobs will be lost at its member universities in response to the COVID-19 crisis. The forecasts indicate that sackings will include 4,400 contract staff and 2,300 permanents and academics. The job…
Several countries have applied support schemes to help employers manage the financial challenges they are facing and encourage them to retain staff. Pinsent Masons’ Manfred Schmid and Lara-Christina Willems in Germany,Diane Nicol and Chris Evansin the UK, and Valrie Blandeau and Anne Cardon in France explain how the situation has differed for employers in their…
PLANO, Texas–(BUSINESS WIRE)–J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the Company and is having ongoing productive negotiations with landlords. Todays announcement…