BENGALURU – Estee Lauder expanded its restructuring programme on Feb 5 to include cutting about 3 per cent to 5 per cent of its workforce, as the cosmetics conglomerate aims to rebuild its profit margins after a delayed rebound in its key China business. Shares of the New York-based company were up 17 per cent…
In a regulatory filing, the company informed that a meeting of the Board of Directors will be held on Feb. 9 to “review the existing corporate structure consisting of real estate and hotel/hospitality business segments and seek in-principle approval of the Board for corporate restructuring including but not limited to the demerger of hotel/hospitality business…
Jon Henes, who left Kirkland & Ellis vaunted restructuring practice in 2021 to start a firm that advises distressed and bankrupt entities, is making his first partner-level lawyer addition since his companys launch. Whitney Fogelberg, a Kirkland restructuring partner, will join a team of 19 strategic communications professionals at C Street Advisory Group and launch…
AMSTERDAM Reorganizing at Corbion will involve simplifying the companys structure into two business units from three business units and reducing its workforce by about 200, which will include closing a fermentation plant in Peoria, Ill. Executives gave details Jan. 31 in Amsterdam during a capital markets update for analysts and investors. Corbion executives also gave…
AMSTERDAM Reorganizing at Corbion will involve simplifying the companys structure into two business units from three business units and reducing its workforce by about 200, which will include closing a fermentation plant in Peoria, Ill. Executives gave details Jan. 31 in Amsterdam during a capital markets update for analysts and investors. Corbion executives also gave…
Reuters. Evercore (EVR) reported a mixed financial performance for the fourth quarter and full year of 2023, with net revenues of over $2.4B for the year and adjusted earnings per share of $2.02 for the quarter. Despite a decline in revenue and operating income compared to the previous year, the company highlighted the diversification of…
Senator Weber and Representative Javadi are peddling a false narrative about a mill closure in Banks, on behalf of the timber industry. The facts: Hampton Lumber, headquartered in Portland, made a business decision to invest $150 million into expanding its mill in Willamina thanks to state and local tax breaks. At the same time, it…
The Australian Taxation Office (ATO) has taken a haircut on $2.11 million owed by the companies behind four of Surfers Paradises biggest nightclub and dining venues after accepting an offer of about 22.5c in the dollar for the debt. The venues, owned by the Gold Coast-based Artesian Hospitality Corp, have been struggling for the past…
HONG KONG A Hong Kong court ordered China Evergrande, the worlds most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about Chinas rising debt burden. It would be a situation where the court says enough is enough, Judge Linda…
Announces Leadership Transition Provides Preliminary Fourth Quarter Results; Schedules Conference Call for February 27, 2024 BEDFORD, Mass., Jan. 29, 2024 /PRNewswire/ — Today, iRobot Corporation (NASDAQ: IRBT), a leader in consumer robots, announced that it will implement an operational restructuring plan designed to position the Company for stabilization in the current environment, while focusing on…