Momentous Entertainment Group Accelerates Restructuring of Its Poolworks Subsidiary – Marketwired (press release)

Restructuring

LAS VEGAS, NV–(Marketwired – Oct 5, 2017) –  Momentous Entertainment Group, Inc. (“Momentous”) (OTC PINK: MMEG), an online social media network company vertically organized into four business areas: social networking, social gaming, ecommerce consumer products and services, and OTT streaming media content creation and distribution, announced today that Poolworks, Germany (a wholly owned subsidiary of…

Citrix’s Revamp Plan to Ramp up Business Profile and Growth – Nasdaq

Restructuring

Citrix Systems, Inc.CTXS has announced a restructuring program in a bid to expedite the transformation to a cloud-based subscription business, increase strategic focus as well as improve operational efficiency. The program will witness removal of some full-time positions and consolidation of facilities.. However, layoffs outside the United States will be subject to local law and…

NeoPhotonics Plans Restructuring, Incl. Job Cuts; Cuts Q3 Outlook – Nasdaq

Restructuring

Shutterstock photo (RTTNews.com) – NeoPhotonics Corp. ( NPTN ), a manufacturer of optoelectronic solutions, on Thursday announced certain restructuring actions, including job cuts. The move is part of its continuing actions to improve profitability and cash flow. Citing the restructuring charges and weak demand in China, the company trimmed its forecast for third…

Organovo Announces Preliminary Fiscal Second-Quarter Total Revenue; Company Restructures to Improve … – GlobeNewswire (press release)

Restructuring

SAN DIEGO, Oct. 04, 2017 (GLOBE NEWSWIRE) — Organovo Holdings, Inc. (NASDAQ:ONVO) (Organovo) today reported preliminary unaudited total revenue for the fiscal second quarter of 2018.  The Company expects to release full fiscal second-quarter financial results on November 9, 2017.  The Company also announced a restructuring plan to improve operational efficiency. Selected Organovo Financial Highlights…

Dubai’s Drake & Scull says capital restructuring completed – ArabianBusiness.com

Restructuring

Drake & Scull International (DSI) has announced that it has successfully completed its capital restructuring program which started at the beginning of the fiscal year. The company also welcomed a AED500 million ($136.1 million) investment by Tabarak Investment which will enable DSIs new leadership to move forward with its operational plans. DSI said it plans…

State Farm offering buyouts in IT restructuring – Bloomington Pantagraph

Restructuring

BLOOMINGTON  State Farm plans to let some local employees go, but will continue to have the same number of workers in Bloomington-Normal while restructuring its information technology department over the next year. “Job reductions will begin by offering a severance payment to certain employees who voluntarily elect to leave the company. We are uncertain how…

Appvion Receives Court Approval of First Day Motions to Support Ongoing Operations – Markets Insider

Restructuring

APPLETON, Wis., Oct. 3, 2017 /PRNewswire/ — Appvion, Inc. (the “Company”) today announced that it has received approval from the United States Bankruptcy Court for the District of Delaware of all of the first day motions related to its Chapter 11 filing. Collectively, the orders issued by the Bankruptcy Court will help ensure that the Company continues…

Appvion Receives Court Approval of First Day Motions to Support Ongoing Operations – PR Newswire (press release)

Restructuring

“We remain focused on operating our business as usual and serving our customers’ needs as we continue constructive discussions with our lenders on an expedited restructuring and emergence,” said Kevin Gilligan, Chief Executive Officer of Appvion. “The approval of our first day motions transitions us smoothly into our restructuring process, from which we expect to…