PepsiCo has kicked off a round of layoffs impacting employees in multiple offices, two people who were laid off by the company told Business Insider. The company announced in a quarterly earnings call last week that it expects to incur $US2.5 billion in restructuring costs through 2023, with 70% of charges linked to severance and…
By Gavin Finch, Bloomberg News February 20, 2019 Top Deutsche Bank executives were so concerned after the 2016 election that the Trump Organization might default on about $340 million of loans while Donald Trump was in office that they discussed extending repayment dates until after the end of a potent… Read the full article at:…
PepsiCo has kicked off a round of layoffs impacting employees in multiple offices, two people who were laid off by the company told Business Insider. The company announced in a quarterly earnings call last week that it expects to incur $2.5 billion in restructuring costs through 2023, with 70% of charges linked to severance and…
Ford Motor Co. is shutting a factory in Brazil in an attempt to turn around its money-losing South American business, dealing a blow to Jair Bolsonaro less than two months into his presidency. The automaker expects to record $460 million in charges related to exiting the heavy-truck business in all of South America, according to…
DETROIT (Reuters) – Ford Motor Co said on Tuesday it would exit its heavy commercial truck business in South America and cease production at a Brazilian plant this year as a result, part of a global restructuring meant to end losses in different regions. As part of a broader restructuring that Ford previously said would…
Flybmi operated 17 regional jet aircraft on routes to 25 European cities. The airline carried 522,000 passengers on 29,000 flights in 2018. The majority of Flybmis 376 employees across the UK, Germany, Sweden and Belgium have been made redundant, although some have been retained to assist the joint administrators. A spokesperson for Flybmi said: The…
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best today announced that Roger Sellek will step down as CEO of AM Bests EMEA and AP regions effective 31 March 2019. Dr. Sellek joined AM Best in 2007. During his tenure at AM Best Dr. Sellek successfully led the expansion of AM Bests global business including the establishment of offices in…
The loss-making engineering and construction services contractor continues its rebuilding process to return DSI to profitability The company appointed Tawfiq Abu Soud, a former managing director of its mechanical, electrical, and plumbing (MEP), and water and power businesses, as its newest CEO last month, just over a month after his predecessor, Yousef Al Mulla resigned.…
The regional airline Flybmi has formally appointed the restructuring firm BDO as administrators after ceasing to trade on Saturday. The airlines immediate owner, British Midland Regional, operated 17 regional jet aircraft on routes to 25 European cities but cancelled hundreds of flights at short notice over the weekend, leaving numerous passengers stranded. Thousands of passengers…
The Australian market has been identified as one of the underperforming markets for Dentsu, with the impacts of lower client spend and changing management contributing to its 2018 financial year results. Following growth in the third quarter, Australia saw a sharp pullback in the fourth quarter resulting in negative growth for the full year. Challenging…