U.S. database giant Oracle Corp. is downsizing its China-based research and development team with hundreds of job cuts as the company seeks to reposition its business and expand further into cloud computing. Oracle announced a restructuring plan focusing on its China R&D operation on a company conference call Tuesday. The plan will involve job cuts…
Image: TerraCom Resources Latest News Coal miner TerraCom Resources has rolled out a $63 million restructuring plan that will support its growth ambitions. TerraCom is launching a fully underwritten offer that will firstly fetch around $35 million. The company has furthered its restructuring effort by agreeing to a $US20 million ($28 million) convertible bond with…
A little-known UK advisory firm stands to make about $27m from the restructuring of Barbadoss $7bn of debts close to what Lazard earned seven years ago when it advised Greece on defaulted debt nearly 40 times bigger. White Oak Advisory is a small firm with just two partners located opposite Claridges hotel in Londons Mayfair.…
German industrial equipment maker, Siemens has announced plans to cut some 10,000 jobs in a major restructuring that will involve spinning off its oil, gas and power generation business and creating new areas of growth. The company said that it would spin off its division that makes power turbines to increase the divisions entrepreneurial freedom,…
U.S. database giant Oracle Corp. is downsizing its China-based research and development (R&D) team with hundreds of job cuts as the company seeks to reposition its business and expand further into cloud computing. Oracle announced a restructuring plan focusing on its China R&D operation on a company conference call Tuesday. The plan will involve job…
TORONTO The union representing staff at CTV News says restructuring announced today has impacted jobs at stations in at leastfive provinces, and will result in a net reduction of staffing. Unifor says the stations affected by restructuring include the CTV1 stations in Alberta, Saskatchewan, Manitoba, Ontario and Quebec. The union, which represents local television staff…
Debenhams has won emphatic approval from its creditors for its rescue restructure plan, that will close at least 22 stores and force through rent cuts on many others. Landlords and other creditors, such as clothing suppliers, approved the closures which form part of two company voluntary arrangement (CVA) deals Debenhams new owners have said are…
PLYMOUTH MEETING, Pa.–(BUSINESS WIRE)–May 8, 2019–CSS Industries, Inc. (NYSE: CSS) announced today a comprehensive restructuring plan to significantly reduce its cost base, while streamlining the organization in a manner designed to improve business performance, profitability and cash flow generation. Development of this restructuring plan initially began in connection with the Companys previously announced management project.…
FRANKFURT, Germany German industrial equipment and technology supplier Siemens AG says net profit fell 5% in the first three months of the year as the company heads into a major restructuring involving the spinoff of its oil, gas and power generation business. Net profit was 1.92 billion euros ($2.15 billion), down from 2.02 billion a…
Oracle Corporationwill shed about 900 employers in its China Development Center in an effort to restructure, 21st Century Business Herald reported. The company announced the decision in a teleconference, saying its a global level business restructuring. The number is equivalent to about 60% of current CDC staff, the report said. Of the 900 employers, more…