Creditors of the bankrupt cryptocurrency lender Celsius have approved a plan that could see them recover between 67% and 85% of their holdings. However, there have been objections to this plan, including from the U.S. Trustee, and the final approval from the court is still pending. The U.S. Bankruptcy Court for the Southern District of…
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Washington, D.C., Sept. 26, 2023 FTI Consulting, Inc. (NYSE: FCN) today announced the appointments of Cynthia Romano and Chris Creger as Senior Managing Directors in the Turnaround & Restructuring practice within the firms Corporate Finance & Restructuring segment. Cynthia and Chris have a track record of helping clients get back to the basics of growing revenue, cutting…
Byjus has decided to lay off around 4,000 employees or over 11 per cent of its total workforce over the next few weeks as part of a restructuring exercise as the struggling edtech giant faces a severe funding crunch, battles lenders and has faced a markdown in its valuation, according to the sources. The Bengaluru-based…
Nippon Electric Glass (NEG) site in Westerbroek, The Netherlands was declared bankrupt yesterday (Tuesday). It means around 275 employees are at risk of losing their jobs as well as 50 temporary workers. District Curator Jeroen Reiziger said its Japanese owner had decided it could no longer afford to keep absorbing losses of up to 1…
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Embattled edtech giant Byju’s will look to drive costs further down by likely cutting jobs as it moves to a more streamlined business under a new leader. “We are in the final stages of a business restructuring exercise to simplify operating structures, reduce the cost base, and better cash flow management,” a Byju’s spokesperson told…
New Delhi: Edtech major Byjus is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday. According to TechCrunch, Byjus will go through the restructuring exercise to pare down costs amid a broad restructuring of its business following a delayed IPO and pressure from lenders.…
New Delhi, Sep 26 (IANS): Edtech major Byjus is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday. According to TechCrunch, Byjus will go through the restructuring exercise to pare down costs amid a broad restructuring of its business following a delayed IPO and…
Star Entertainment Group Ltd announced a refinancing action. The Australian gambling giant revealed that it is seeking to raise as much as AU$1.2 billion through a combination of debt and equity after a recent crackdown on money laundering and associations with criminal organisations across the countrys gambling sector undermined its financial capabilities. On September 25th,…