When the COVID-19 pandemic emerged as a serious challenge for corporations at the start of 2020, it seemed as if the business environment could hardly be more volatile. Yet nearly three years later, COVID-19 is still present, and serious geopolitical tensions with massive economic implications are contributing to even greater volatility. This environment is already…
Cryptocurrency exchange CoinDCX has started consolidating some of its functions and, as a result, has laid off employees as a cost-cutting measure, according to multiple sources aware of the development. The marketing, branding, and activation teams were most affected by this restructuring that took place last month. This comes at a time when crypto exchanges…
Vroon will sell 40 offshore support vessels to focus on tis tankers and livestock carriers (Vroon)Published Jan 10, 2023 5:11 PM by The Maritime Executive Dutch shipping group Vroon, which has been a family-run business for more than 130 years, has succumbed to financial pressures that were exacerbated by global events and economic pressures in…
Dive Brief: McDonalds will evaluate roles and staffing levels ahead of difficult discussions and decisions around jobs the company expects to finalize by April 3, CEO Chris Kempczinski wrote in a message sent to employees on Friday and reviewed by Restaurant Dive. McDonalds didnt disclose how many employees could be impacted by this potential corporate…
PITTSBURGH–(BUSINESS WIRE)–Alcoa Corporation (NYSE: AA) today announced a restructuring of its Executive Leadership Team to further improve the Companys rigorous focus on operational excellence, cost, and innovation. The changes, effective February 1, 2023, will include the reassignment of responsibilities for two existing members of the Executive Leadership Team and the appointment of a new Chief…
TORONTO–(BUSINESS WIRE)–Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (Flow or the Company) today announced that it has commenced an internal restructuring, which will further optimize the Companys operations toward achieving profitable growth of the Flow brand. The internal restructuring and the previously announced sale of the Verona production facility are expected to result in a reduction of…
A large Burger King operator declared bankruptcy, blaming the pandemic and inflation. / Photograph: Shutterstock. TOMS King Holdings, a 90-unit Burger King operator with locations in four states, declared bankruptcy this week, blaming the pandemic and subsequent inflation challenges for draining its cash flow and making it unable to pay its debt. The company is…
(Bloomberg) — Helen of Troy Ltd., the retail conglomerate behind consumer and wellness brands like OXO, Osprey and Vicks, will slash about 10% of its global staff in a restructuring. The company announced the cuts along with fiscal third-quarter earnings on Thursday. As part of the changes, the Beauty business will be combined with the…
BY Richard Summerfield Following its collapse in late 2021, GTT Communications has finally exited its Chapter 11 bankruptcy and restructuring processes, having removed $2.8bn from its debt pile and brought in new investors. The company, which filed for Chapter 11 bankruptcy in October 2021, has agreed a deal with key creditors to amend its reorganisation…
Wednesday, January 4, 2023 Market overview Few could have predicted the unexpected twists and turns 2022 would provide. A year in which the spectre of war came home to haunt Europe. It sent energy prices spiralling out of control and the world economy facing a triple whammy of rising interest rates, double-digit inflation and a…