Morrison Forester is pleased to announce that it has successfully guided CalPlant to emergence from its chapter 11 bankruptcy proceedings. Prior to its bankruptcy case, CalPlant constructed the worlds first plant intended to convert rice straw (a waste product of rice production) into high-quality, environmentally friendly, and competitively priced medium-density fiberboard (MDF). Construction of the…
Reuters. Citigroup Inc (NYSE:)., a prominent player in the Banks industry according to InvestingPro Tips, is undergoing its most substantial restructuring in two decades, aiming to address a 40% decline in its stock value and a reduced market worth of $79 billion. This strategic move, initiated by CEO Jane Fraser in collaboration with Boston Consulting…
Hindustan Zinc on Friday said that its board has authorised the Committee of Directors (CoD) to evaluate appropriate corporate restructuring exercise. The Board of Directors of the company have decided that considering the scale, nature, and potential opportunities for various business verticals of the company, it should undertake a comprehensive review of its corporate structure…
Redundancies, technological improvements and the consolidation of property have all contributed to an expected $79 million hit to the Bank of Queensland’s (ASX: BOQ) after-tax profit for the second half of FY23, which for the Brisbane-headquartered group ended on 31 August. BOQ estimates after-tax costs of $35 million from restructuring and $44 million for integrations with ME Bank…
Byjus will reportedly fire employees in large numbers. Now, the company has reportedly prohibited its employees from talking to the media.The edtech company is making significant changes to its operations, and one of the recent moves is the introduction of a strict social media policy for its employees. This policy prevents them from communicating with…
Shares in embattled Chinese developer Evergrande Group and its two subsidiaries were suspended from trading in Hong Kong on Thursday, after fears grew about its ability to restructure its mammoth debt and stave off a liquidation of the business. The world’s most indebted real estate developer, which has total liabilities worth $514.26 billion ($USD328 billion)…
The attention of tax authorities on supply chain reorganisations, which impact the operations of multinational enterprises (MNEs), has noticeably increased following the issuance of the OECDs transfer pricing aspects of business restructurings (the OECD published guidance on business restructurings in draft form in 2009 and subsequently included it as final in the latest edition of…
Byju’s has implemented a new social media policy that restricts employees from engaging with the media. This decision coincided with the company’s announcement of significant business restructuring and the potential dismissal of 4,000 to 5,000 employees. According to an internal company communication reviewed by Moneycontrol on September 26, employees who do not comply with these…
Indian edtech major BYJU’S has decided to undergo a fresh round of layoffs over the next few weeks as part of a restructuring exercise, Business Today has learned from sources. This development comes as the edtech struggles with a severe funding crunch, battles lenders and has faced a markdown in its valuation. Layoffs at BYJU’S…
Byju’s layoff: The edtech major last week elevated Mohan as the CEO of its India operations as it mulls to sell some of its subsidiaries to repay its outstanding $1.2 billion Term Loan B (TLB) amid “difficult business restructuring”. The restructuring exercise is being undertaken under the leadership of new CEO Arjun Mohan. Image: IANS Read…