US tech company Salesforce, which employs more than 2,000 people in Ireland, has informed staff it will layoff around 10% of its workforce and close some offices as part of a cost-cutting restructuring plan. Shares in the cloud software firm have nearly halved in value over the past year as part of a broader sell-off…
Commonwealth Bank is providing its Emergency Assistance to customers and businesses in flood-affected areas in the Kimberley region of Western Australia. Retail Banking Services Group Executive, Angus Sullivan, said: Our thoughts are with everyone affected by dangerous flooding across a number of remote communities in the Kimberley and we thank emergency services who are working…
Salesforce has announced drastic restructuring plan to cut 10 percent of its workforce at a cost of around $1.4 billion to $2.1 billion. The CRM giant employs around 73,000 people, so the restructuring plan announced to the US Securities and Exchange Commission [PDF] this morning could see 7,000 jobs go. Meanwhile, the SaaS specialist plans…
Conditions precedent from the resolutions of the creditors’ meetings on the restructuring of the Corestate bonds have occurred Luxembourg, January 04, 2023 Corestate Capital Holding S.A. (the “Issuer”) hereby announces that the conditions precedent (as defined in Clause 1 (ii) of the additional proposal for resolution for the convertible bond 2022 and in Clause 1…
Regulatory scrutiny forced Hangzhou-based Ant Group to abruptly suspend its massive IPO plans in 2020. Vcg | Visual China Group | Getty Images BEIJING Ant Group’s consumer finance unit has received approval to more than double its registered capital, a sign of progress in resolving regulators’ concerns. Since the abrupt suspension of its massive IPO…
Garuda Indonesia plans to maximise business performance momentum following its exit from restructuring, tapping into opportunities in the cargo and religious pilgrimage markets. The airline, which completed restructuring at the end of 2022, is also targeting to operate 66 aircraft this year, in addition to another six aircraft it already owns. It is a slight…
IRVINE, Calif.–(BUSINESS WIRE)–Force Ten Partners, LLC is pleased to announce that Edward Kim and Jorge Gonzlez have joined the firm as partners. Edward and Jorge are leading Force 10s bankruptcy committee practice, which focuses on advisory services for official and ad hoc committees of unsecured trade, tort, and litigation creditors, as well as equity committees.…
01/03/2023 | 10:18am EST Washington, D.C., Jan. 3, 2023 – FTI Consulting, Inc. (NYSE: FCN) today announced the promotion of 35 professionals within the firm’s Corporate Finance & Restructuring segment to Senior Managing Director, effective Jan. 1, 2023. “Organizations call on FTI Consulting to help them navigate challenges related to business transformation, transactions and restructurings,…
One thing thats become clear in the past few tumultuous and for many, traumatic years is that its easy to feel like there is no control in our lives. Control is a basic psychological need that helps people feel like they have agency, from how they live to where they work. One area where people…
GTT Financial restructuring process completed Debt reduced by close to $3 billion; balance sheet strengthened Culture transformed to focus on customer experience and continuous operational improvements MCLEAN, Va., Jan. 03, 2023 (GLOBE NEWSWIRE) — GTT Communications, Inc. (GTT or the Company), a leading global provider of managed network and security services to multinational organizations, announced…