Hong Kong. A Hong Kong court on Monday ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors. Judge Linda Chan said it was appropriate for the court to order Evergrande to wind up its business given a lack of progress on the part of the…
The Evergrande Group headquarters logo in Shenzhen, China. Photo / AP A Hong Kong court today ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors. Judge Linda Chan said it was appropriate for the court to order Evergrande to wind up its business given a…
HONG KONG (AP) A Hong Kong court on Monday ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors. Judge Linda Chan said it was appropriate for the court to order Evergrande to wind up its business given a lack of progress on the part of…
Gloucestershire retailer is considering a major restructuring as it battles for survival according to widespread reports. The retailer has been hit by rising debts and a slump in sale and this week announced a 35 per cent slump in sales and the departure of its chief finance officer. According to reports the Cheltenham firm is…
Superdry, the London-listed clothing retailer, is weighing a radical restructuring that could involve significant numbers of store closures and job cuts after reporting weak sales. Sky News has learnt that Superdry and its advisers at PricewaterhouseCoopers (PwC) are initiating work on plans that could lead to a company voluntary arrangement (CVA) or restructuring plan, both…
Company to Use United States Chapter 11 Process to Strengthen Financial Position GOL Will Continue to Provide Safe and Reliable Air Transportation Without Interruption All Flights are Operating as Scheduled and All Tickets and Reservations Remain in Place Company Secures US$950 Million New Financing Commitment to Support the Business SO PAULO, January 25, 2024 GOL…
In the wake of strong earnings for fiscal year 2023, SAP is restructuring around AI — a move that’s expected to affect around 8,000 employees. The restructuring will focus on growth areas, particularly SAP’s business AI capabilities, and is intended to set up future growth, the company said in a statement. Business AI at SAP…
Share this article Credit: Shutterstock/nitpicker Multinational German software company, SAP, has revealed its comprehensive restructuring plan for 2024 involving voluntary redundancies or job changes for 8,000 employees. The move is aimed at reshaping the company and positioning it for faster growth, driven in part by AI and a commitment to becoming more cloud-centric. In an…
Software giant, SAP will be undertaking a company-wide restructuring program that will impact 8000 roles globally, at a cost of 2 billion to “meet future business needs.” SAP wouldnt clarify if roles would be impacted in A/NZ or ASEAN. To ensure that SAPs organisational setup, skill set, and resources continue to meet future business needs,…
By Sabela Ojea Mativ is putting in place a restructuring plan to reduce costs by $40 million by the end of 2026 as it reorganizes its business structure and lays off senior employees. The specialty materials company on Wednesday said the cost-cutting plan will help it increase cashflow and reach mid-teen earnings, before interest, taxes,…