Nokia CEO Pekka Lundmark Nokia is slashing up to 14,000 jobs as part of a corporate restructuring that the Finland-based telecommunications equipment vendor said is necessary to counter near-term headwinds impacting its operations. The move also comes at the tail-end of what was a previous three-year turnaround program. Nokia is positioning the job cuts as…
Washington, D.C., Oct. 19, 2023 FTI Consulting, Inc. (NYSE: FCN) announced today that the firm has received multiple industry recognitions across its Corporate Finance & Restructuring and Strategic Communications segments in recent months, demonstrating the firms depth of global expertise and commitment to client service excellence. Accolades include: Global M&A Network: FTI Consulting was recognized…
Byju’s plans to cut as many as 5,000 jobs in the coming weeks, a person familiar with the matter said, as the Indian edtech giant looks to pare down costs amid a broader restructuring of its business following a delayed IPO and pressure from lenders. The Bengaluru-headquartered startup, which recently appointed a new head for…
(l-r): Lizzy Wood, Craig Scott (Business Group leader), Lemi McAuley, Molly Rowell (Image credit: Hill Dickinson) Law firm Hill Dickinson has established a full restructuring practice at its Leeds office following a double appointment. Lizzy Wood and Molly Rowell have reunited with restructuring partner Lemi McAuley, who joined the firm earlier this year, completing a…
Dessert brand Sara Lee has entered voluntary administration, only a year after celebrating 50 years in Australia. Vaughan Strawbridge, Kathryn Evans, and Joseph Hansell of FTI Consulting were appointed as receivers. The appointment aims to seek restructuring and sale of the business while continuing its operations in the country. While it has not been stated…
Oct 18 (Reuters) – Walt Disney (DIS.N) will break out its sports programming revenue from the fourth quarter onwards following a restructuring of the company announced earlier this year, the media firm said on Wednesday. Results from Disney’s media and entertainment business will be reported in two segments: entertainment and sports. Sports will include ESPN…
Sara Lee ice-cream brand in Australia c/o Facebook Two years after McCain Foods sold the Sara Lee business in Australia and New Zealand, the frozen desserts supplier has gone into administration. FTI Consulting was appointed administrator on 17 October, with the process to be overseen by Vaughan Strawbridge, Kathryn Evans and Joseph Hansell. Sara Lee…
Johnson & Johnson MedTech is restructuring its DePuy Synthes orthopedic business, executives said today on a quarterly earnings call with investors. J&J (NYSE: JNJ) + CFO Joe Wolk said the two-year restructuring program will take the orthopedics unit out of less profitable markets and product lines to improve the segments profitability after it reported 2.6%…
Open this photo in gallery: The company logo for Johnson & Johnson at the New York Stock Exchange, on Sept. 17, 2019.BRENDAN MCDERMID/Reuters Johnson & Johnson JNJ-N on Tuesday said it has embarked on a two-year restructuring program for its orthopedic business after third-quarter medical devices sales fell short of Wall Street expectations, reflecting the…
Listen to the article 5 min This audio is auto-generated. Please let us know if you have feedback. By the numbers Q3 sales: $21.35 billion 6.8% increase year-over-year Net income: $4.31 billion Flat year-over-year Medtech sales: $7.46 billion 10% increase year-over-year Orthopaedics restructuring Johnson & Johnson announced it will restructure its orthopedics business, with plans…