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DetailsEmbattled 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…
DetailsNew 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.…
DetailsNew 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…
DetailsStar Entertainment Group Ltd announced a refinancing action. The Australian gambling giant revealed that it is seeking to raise as much as AU$1.2 billion through a combination of debt and equity after a recent crackdown on money laundering and associations with criminal organisations across the countrys gambling sector undermined its financial capabilities. On September 25th,…
DetailsKNP Logistics, described by its administrators as one of the United Kingdoms largest privately owned logistics groups, declared itself insolvent on Monday, blaming a ransomware attack back in June. Approximately 730 employees will be made redundant as a result of the administration process, although one of the groups key entities has been sold, saving about…
DetailsIf youve found yourself in credit card debt, youre not alone. According to TransUnion, the average American has $5,474 in credit card debtand the number of people in debt continues to climb. Brian Atkins, D.C. Community Manager from Chase, discusses the importance of debt management, including key steps to take and how to rid yourself…
DetailsInfarm, once Europes largest vertical farming company, has been declared bankrupt in the Netherlands as of September 19, according to official documents. The news comes after the company shut down operations across its key markets of the UK, France, Germany, the Netherlands and Denmark over the last year. In June, Sifted reported that Infarm was…
DetailsCAMBRIDGE Low-income countries are in the throes of a liquidity crunch that is not only undermining their economic development but also deepening the global climate crisis. In 2020 and 2021, net financial transfers to Africa were close to zero their lowest level in a decade despite record transfers from multilateral development banks (MDBs). That drop-off…
DetailsSept 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…
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