Sept 4 (Reuters) – Australian mining giant BHP (BHP.AX) said on Monday a Brazilian court had approved the reorganisation plan for its Samarco joint venture, clearing the path for the cash-strapped Brazilian miner to move ahead with a $3.7 billion debt restructuring. The debt reorganisation is intended to help Samarco meet funding obligations related to…
This article from Company Director Magazine was first published September 2023, Volume 39, Issue 09. Full publication available at: https://www.aicd.com.au/news-media/company-director-magazine/all-editions/september-2023-edition.html Boards are required to navigate operational challenges and financial distress in an increasingly uncertain economy, and the onus on them to recognise and solve shortcomings can feel overwhelming. Were the voice of reason to the board,…
NTEU members and students rally at the University of Melbourne on Monday, 29 August, 2023. The Macquarie University Rank-and-File Committee is hosting an online forum for university workers and students this Sunday at 4.30 p.m. (AEST) to discuss the retrograde enterprise agreements that the management and the unions are seeking to impose at Sydneys Macquarie…
A one-day walkout by a labor union of Sogo-Seibu Co. did not ultimately prevent the parent company from selling the department store operator. However, an expert said the rare labor action, the first such strike at a major department store in more than 60 years, showed the risk of corporate restructuring without employee input. Some…
Embracer Group has announced the immediate shutdown of Saints Row studio Volition, after a tumultuous year for the company. While the studio has an impressive three-decade-long tenure, and a busload of award-winning games under its belt, it appears even these accolades paled in the face of business restructuring. This past June, Embracer Group announced a…
Cybersecurity giant Malwarebytes this week laid off 100 employees as it prepares for a major restructuring that will see the business split into two, TechCrunch has learned. The layoffs come almost exactly a year after Malwarebytes eliminated 14% of its global workforce. A former employee who asked not to be named told TechCrunch that the layoffs…
Embracer Group, which was once on an endless shopping spree, is now dumping its first-party studios as part of the ongoing business restructuring. This time, the victim was Red Faction and Saints Row developer Volition, not to mention layoffs at Gearbox Publishing. Read the full article at: https://gameworldobserver.com/2023/09/01/embracer-volition-shutdown-gearbox-layoffs-restructuring
Prathyusha Agarwal, the Chief Business Officer of Indian ed-tech startup Byjus, along with two other top-ranking executives, namely Himanshu Bajaj and Mukut Deepak, have stepped down from their roles at the company. This move comes amid a significant restructuring of Byjus business operations in a bid to achieve profitability and sustainable growth. Agarwal, who previously…
Picture: Edex Live EdTech firm BYJU’S has confirmed that the firm has undertaken a restructuring of businesses and as part of it, three top executives have resigned from the firm. In a statement to The New Indian Express, a spokesperson from BYJU’S said, “As BYJU’S continues to chart its path to profitability and sustainable growth, we…
(Updated – August 29, 2023 6:58 AM EDT) Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) (the Company), a global biopharmaceutical company and leader in complement, today announced a corporate restructuring to drive growth of SYFOVRE (pegcetacoplan injection) and EMPAVELI (pegcetacoplan), positioning Apellis for long-term success. This restructuring will include cost reduction initiatives that align with the Companys…