SNC-Lavalin Group Inc. is restructuring its money-losing resources business with a plan to sell off or shut down the non-profitable parts and fold the remnants into its engineering services division. The announcement Friday came alongside earnings that fell short of analysts expectations as the engineering giant lost $111.6 million in the second quarter compared to…
MONTREAL SNC-Lavalin Group Inc. is restructuring its money-losing resources business with a plan to sell off or shut down the non-profitable parts and fold the remnants into its engineering services division. The announcement Friday came alongside earnings that fell short of analysts’ expectations as the engineering giantlost $111.6 million in the second quarter compared to$2.12…
SO PAULO, BRAZIL Biorigin on July 29 announced a restructuring of its feed business sector. Alessandro Lima, with the company since 2019, is now Biorigins global feed business manager. Lima has more than 20 years of experience in multinational animal health companies, where he worked in marketing, product and sales management. Claudia Mnaco has recently…
Anglo American insisted the diamond market was in a very positive place despite an earnings slump at its De Beers unit, where staff were briefed on a restructuring of the business that will lead to job losses. The $80bn diamond industry has been paralysed by the coronavirus pandemic with every part of the supply chain…
All organizational structures have a shelf life as internal and external conditions evolve is yours in need of a refresh? First, its important to clarify that restructuring your business isnt the same thing as reducing your workforce. In fact, smart organizations regularly analyze and proactively adjust their structure to take advantage of new trends and…
New Zealands largest retail chain axes 1,080 jobs By John Braddock29 July 2020 The carnage being inflicted on workers jobs continued when New Zealands largest retail chain, The Warehouse, announced on July 19 up to 1,080 sackings. It followed the recent decision by the global conglomerate Rio Tinto to mothball Southlands Tiwai Point aluminium smelter…
Cash-flow issues not JobKeeperare whats keeping Aussie business owners awake at night, new research from business recovery and insolvency firm Jirsch Sutherland has revealed. The research, based on an independent survey of over 1,000 business owners, found that todays cash-flow troubles could translate into a number of insolvencies over the next six months as the…
LV= General Insurance has revealed that around 600 jobs of the 4,300 roles in the company will be impacted by the restructuring plans to reshape its business over the next two and half years. The changes are aimed at providing the company with more operational efficiency and to position it for the future. The UK-based…
Cashflow and turnover were the key sources of stress for one third of survey respondents, compared to just 10 per cent who said the end of JobKeeper is their primary concern. But it might not be so straightforward, since the cuts to JobKeeper payments that are coming at the end of September 2020 and again…
Against a backdrop of growing demand for steering distressed companies through the choppy waters of today’s crisis economy, one of the globes top restructuring consultancies has expanded its turnaround and insolvency offerings into Norway and Switzerland. Alvarez & Marsal has been active in the restructuring business since 1983, but the firm rose to global fame…