Westpac has ended a near six-month job search to replace its chief financial officer by appointing KPMG partner Michael Rowland to the top role. Mr Rowland will take up the position later this year, closing a recruitment drive sparked by Westpacs 2019 AUSTRAC scandal that thrust then CFO Peter King to take helm of the…
Wirecards Australian and New Zealand businesses were officially placed in voluntary administration yesterday afternoon. Around 70 local and Kiwi staff were notified of the decision following the appointment of Andrew Fielding and Nicholas Martin from BDO Business Restructuring as administrators of the Australian operation. Melbourne staff were told that BDO would make an assessment on…
Embattled ZenRock Commodities Trading was granted judicial management yesterday, but the judicial managers have noted that any restructuring of the firm, which is under investigation by the Commercial Affairs Department (CAD), would “at best preserve only a fraction of its business”. KPMG Services’ Martin Wong, Bob Yap and Toh Ai Ling, who were confirmed as…
SEYMOUR, Ind. (Inside INdiana Business) A Philadelphia-based generic pharmaceutical manufacturer has announced a restructuring plan involving its facility in Jackson County. Lannett Co. Inc. (NYSE: LCI) says it is consolidating its research and development operations into a single facility, which involves 80 employees being laid off, a majority of them located in Seymour. The company…
SINGAPORE – Embattled ZenRock Commodities Trading was granted judicial management on Monday (July 13) but the judicial managers have noted that any restructuring of the firm now under Commercial Affairs Department (CAD) investigation would “at best preserve only a fraction of its business”. KPMG staff members Martin Wong, Bob Yap and Toh Ai Ling, who…
PHILADELPHIA, July 13, 2020 /PRNewswire/ –Lannett Company, Inc. (NYSE: LCI) today announced a restructuring and cost savings plan. The initiatives include consolidating the research and development (R&D) function into a single location in Philadelphia and lowering operating costs. The company’s workforce will be reduced by approximately 80 positions, equal to approximately 8.5% of the company’s…
The Supervisory Board of Casinos Austria has unanimously agreed to a difficult restructuring plan which it claims would be the largest reorganisation in the companys history. According to news in the Austrian media, it plans to make 500 workers redundant as it claims that this would save 1,200 jobs. Company pensions will be reduced and…
Retailer Scholar’s Choice is closing all but three of its stores as part of a restructuring of its operations to focus on its e-commerce and catalogue business Retailer Scholar’s Choice is closing all but three of its stores as part of a restructuring of its operations to focus on its e-commerce and catalogue business. The…
LONDON, Ont. Retailer Scholar’s Choice is closing all but three of its stores as part of a restructuring of its operations to focus on its e-commerce and catalogue business. The seller of educational toys, teaching materials and early childhood furniture and toys says it has filed for creditor protection through a notice of intention to…
LONDON,ON, July 10, 2020 /CNW/ –Scholar’s Choice, a division of Educator Supplies Limited, today announced a strategic restructuring to reduce its footprint in the brick-and-mortar retail space while growing its e-commerce and catalogue operationsservicing childcare centres, schools, teachers and parents across Canada. As part of the restructuring, the company has filed for creditor protection through…