Court appoints administrators to oversee Yingli restructure pv magazine International – pv magazine International

The Chinese solar panel making division of the debt-saddled company appears likely to be broken up after admitting creditors will take controlling stakes in its business units following the successful petition of a court in Hebei province. June 10, 2020 Max Hall The company says employees will not be affected by the restructure. Image: Yingli…

Australia Post restructure threatens over 2,000 jobs – World Socialist Web Site – World Socialist Web Site

Australia Post restructure threatens over 2,000 jobs By Oscar Grenfell10 June 2020 A sweeping restructure by Australia Post, the countrys government-operated postal service, threatens up to 2,500 jobs, along with wage reductions and further attacks on working conditions. Postal workers were informed at briefings called by management last week that one in four postal delivery…

By sacking staff and closing stores, big businesses like The Warehouse could hurt their own long-term interests – The Conversation AU

To paraphrase Winston Churchill, it is curious to see The Warehouse Group (TWG) not letting a good crisis go to waste. Despite recently receiving NZ$68 million in government wage subsidies as a result of the COVID-19 lockdown, TWG has now proposed store closures and more than 1000 staff layoffs across its Warehouse, Noel Leeming and…

A Primer on Restructuring Your Company’s Finances – Harvard Business Review

Executive Summary During the Covid-19 pandemic, many companies have been meeting their cash needs through existing lines of credit. But these will soon run out and those with highly leveraged balance sheets will need to undergo a financial restructuring in which the key contracts with financial stakeholders are renegotiated. This article describes the out-of-court and…

Sophos Undertakes Company Restructuring, Staff Cuts Due To COVID-19: Reports – CRN: Technology news for channel partners and solution providers

Sophos plans to cull its workforce by up to 16 percent and close some offices just three months after being acquired by private equity firm Thoma Bravo, according to media reports. Sophos confirmed the restructuring in a statement to CRN, but did not respond to questions about how many workers were impacted and in what…