Udacity, the $1 billion online education startup, has laid off about 20 percent of its workforce and is restructuring its operations as the companys co-founder Sebastian Thrun seeks to bring costs in line with revenue without curbing growth, TechCrunch has learned. The objective is to do more than simply keep the company afloat, Thrun told…
Operations Continuing Without Interruption Receives Court Approval of First Day Motions to Support Normal Business Operations Granted Interim Approval to Pay All Vendors and Suppliers in Full Granted Interim Approval to Access up to $85 Million of DIP Financing DALLAS, Texas, April 09, 2019 (GLOBE NEWSWIRE) — Southcross Energy Partners, L.P.(OTC: SXEEQ)(Southcross or the Company)…
Senvion GmbH has filed for self-administered restructuring proceedings after refinancing discussions with lenders have so far not come to a positive conclusion. These preliminary self-administration proceedings relate to Senvion GmbH as well as its subsidiary Senvion Deutschland GmbH. The objective of the proceedings is to allow Senvion to proceed with the transformation process that was…
Memphis Goodwill plans to open its first Midtown re-sale store, in the former Rite Aid building at 1810 Unionby Aug. 1. Out of some miracle, the site on Union opened up,” said Tony Martini, president and chief executive of the nonprofit organization. “Weve been wanting to have a retail presence in Midtown a long,…
The logo of French banking group Societe Generale. Picture: AFP Societe Generale said Tuesday that it is launching two restructuring projects that could lead to up to 1600 jobs being cut from its global operations. The French bank said it plans to revamp its global banking and investor solutions businesses, and modify the organisational structure…
State-Owned Enterprises Minister Rini Soemarno has said the ministry is considering integrating flag carrier Garuda Indonesia and two airport operators PT Angkasa Pura I (AP I) and PT Angkasa Pura II (AP II) into an aviation holding company. We are studying the possibility of establishing a holding company, said Rini recently as quoted by tribunnews.com,…
Napoleon Perdis creditors have approved a $1.6 million proposal to save the business which will see its 28 stores remain open and more than 250 staff keep their jobs. The cosmetics retailer, which fell into administration in January, will be purchased by KUBA investments, run by cross-border retail investor Livia Wang and her business partner…
Australias happiest profession are sports and recreation, while government and defence are the least happy, according to SEEK. The head of a recruitment company says businesses undervalue happiness. Positive business conditions ahead for Australias unhappiest profession New data from SEEK has found CEOs in Australia rate among the happiest workers in Australia, while Australias unhappiest…
Business software company SAP said Robert Enslin, the head of its cloud business group, has resigned.Robert Enslin joined SAP in 1992 and served on its board since 2014. IT industry analysts considered Robert Enslin as a potential successor to SAP CEO Bill McDermott. SAP reported Cloud & Software revenue of 20.622 billion in 2018 against…
Sports Direct offered to give Debenhams a 150m cash injection over the weekend as Mike Ashley made a last-ditch attempt to take control of the embattled retailer and prevent it from entering a pre-pack administration. On Friday night the retail tycoon sent a letter to the board of Debenhams offering to underwrite 150m of new…