Washington, D.C., Sept. 26, 2023 FTI Consulting, Inc. (NYSE: FCN) today announced the appointments of Cynthia Romano and Chris Creger as Senior Managing Directors in the Turnaround & Restructuring practice within the firms Corporate Finance & Restructuring segment. Cynthia and Chris have a track record of helping clients get back to the basics of growing revenue, cutting…
Byjus has decided to lay off around 4,000 employees or over 11 per cent of its total workforce over the next few weeks as part of a restructuring exercise as the struggling edtech giant faces a severe funding crunch, battles lenders and has faced a markdown in its valuation, according to the sources. The Bengaluru-based…
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Embattled edtech giant Byju’s will look to drive costs further down by likely cutting jobs as it moves to a more streamlined business under a new leader. “We are in the final stages of a business restructuring exercise to simplify operating structures, reduce the cost base, and better cash flow management,” a Byju’s spokesperson told…
New Delhi: Edtech major Byjus is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday. According to TechCrunch, Byjus will go through the restructuring exercise to pare down costs amid a broad restructuring of its business following a delayed IPO and pressure from lenders.…
New Delhi, Sep 26 (IANS): Edtech major Byjus is going to lay off 4,000-5,000 employees in a business restructuring exercise in the coming weeks, the media reported on Tuesday. According to TechCrunch, Byjus will go through the restructuring exercise to pare down costs amid a broad restructuring of its business following a delayed IPO and…
Sept 26 (Reuters) – Alibaba Group (9988.HK) on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago. Alibaba said on Tuesday it had submitted an application…
Societal CDMO, Inc., a contract development and manufacturing organization (CDMO), is implementing a strategic restructuring plan to streamline and optimize operations. Societal has reduced its workforce by 26 positions (9%) across all the business, effective September 20, 2023, and has eliminated nine open positions. These moves are expected to result in annualized savings of approximately…
The author is an analyst for NH Investment & Securities. He can be reached at [email protected] — Ed. A change in business structure to electrification is expected at Hyundai Wias auto parts division on orders for thermal management parts. Elsewhere, having completed restructuring, the machinery division should see a full-scale strengthening in top- and bottom-line…
Reuters. Citigroup (NYSE:)’s CEO, Jane Fraser, has initiated a significant restructuring of the bank, marking the most substantial overhaul in 15 years. The plan aims to shift the bank’s focus from geographical divisions to its individual business units. The restructuring strategy has been met with mixed reactions internally due to uncertainty surrounding job cuts and…