Tag #Restructuring

Showing 157 to 168 of 197 results

euronews.com

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Dec 18, 13:13

Stellantis to Boost Italian Auto Production with New Models

Stellantis announced plans to increase production at its six Italian auto plants by launching more than a dozen new models through 2032, including the Fiat Pandina and a hybrid/electric 500, in response to concerns about its commitment to Italy following the resignation of its CEO and new EU regulat...

Stellantis to Boost Italian Auto Production with New Models

Stellantis announced plans to increase production at its six Italian auto plants by launching more than a dozen new models through 2032, including the Fiat Pandina and a hybrid/electric 500, in response to concerns about its commitment to Italy following the resignation of its CEO and new EU regulat...

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What immediate actions is Stellantis taking to address concerns about its commitment to Italian operations and slumping sales?

Stellantis, the world's fourth-largest carmaker, announced plans to boost production at its six Italian factories by launching over a dozen new models through 2032, including a new Fiat Pandina and hybrid/electric 500. This follows the recent resignation of CEO Carlos Tavares and aims to alleviate concerns about the company's commitment to Italy, with Turin becoming the headquarters for European operations in January 2024.

sueddeutsche.de

🌐 75% Global Worthiness

Dec 13, 13:13

Evonik Restructures, Cuts Jobs, Appoints Women to Top Management

Evonik, a German specialty chemicals company, is restructuring its operations, reducing its management layers, cutting 2000 jobs globally, and appointing two women to its executive board, resulting in women holding the majority of seats. The company is also reducing its business units from five to t...

Evonik Restructures, Cuts Jobs, Appoints Women to Top Management

Evonik, a German specialty chemicals company, is restructuring its operations, reducing its management layers, cutting 2000 jobs globally, and appointing two women to its executive board, resulting in women holding the majority of seats. The company is also reducing its business units from five to t...

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How will Evonik's restructuring impact its operational efficiency and competitiveness?

"Evonik streamlines operations, reducing management layers from 10 to 6 and cutting 2000 jobs globally by 2026 to enhance efficiency and cut costs. Two new female executives, Lauren Kjeldsen and Claudine Mollenkopf, join the five-person executive board, making women the majority. This restructuring involves reducing business units from five to three and potential divestments of some assets, impacting nearly 5000 employees.", A2="The restructuring at Evonik reflects a broader trend among corporations to improve agility and competitiveness by flattening hierarchies and focusing resources. The reduction in business units and potential asset sales aim to increase profitability and simplify operations, mirroring similar strategies implemented by Bayer. The appointment of two women to the executive board demonstrates a commitment to diversity and inclusion.", A3="Evonik's transformation may face challenges related to employee morale and potential disruptions during the restructuring process. The success of the new structure depends on smooth integration and strategic alignment of the three business units. The sale of assets and job reductions could impact regional economies and require substantial investment in retraining initiatives.", Q1="How will Evonik's restructuring impact its operational efficiency and competitiveness?", Q2="What are the broader economic and social implications of Evonik's job cuts and asset sales?", Q3="What are the potential long-term challenges and risks associated with Evonik's strategic transformation?", ShortDescription="Evonik, a German specialty chemicals company, is restructuring its operations, reducing its management layers, cutting 2000 jobs globally, and appointing two women to its executive board, resulting in women holding the majority of seats. The company is also reducing its business units from five to three and plans to sell some assets, potentially affecting almost 5000 employees.", ShortTitle="Evonik Restructures, Cuts Jobs, Appoints Women to Top Management")) #Evonik reorganisiert, baut Stellen ab und ernennt Frauen in die Geschäftsführung

welt.de

🌐 75% Global Worthiness

Dec 13, 16:12

Evonik Restructuring: 7,000 Jobs Affected by Major Restructuring

Evonik, a German chemical company, is restructuring, separating its "Technology & Infrastructure" division, potentially selling the infrastructure unit with 3,600 employees, while cutting 2,000 administrative roles and selling other businesses, impacting around 7,000 jobs in total.

Evonik Restructuring: 7,000 Jobs Affected by Major Restructuring

Evonik, a German chemical company, is restructuring, separating its "Technology & Infrastructure" division, potentially selling the infrastructure unit with 3,600 employees, while cutting 2,000 administrative roles and selling other businesses, impacting around 7,000 jobs in total.

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Why is Evonik undertaking this restructuring, and what are the long-term strategic goals?

Evonik aims to streamline operations and improve profitability through this restructuring, shifting towards a two-division structure: "Custom Solutions" and "Advanced Technologies." The sale of non-core businesses addresses underperformance and allows Evonik to focus resources on higher-margin areas. The planned job cuts aim to reduce administrative overhead and enhance efficiency.

elpais.com

🌐 75% Global Worthiness

Dec 9, 10:09

Celsa's Ownership Shift and Debt Restructuring

After a legal battle, Spanish steelmaker Celsa, previously controlled by the Rubiralta family, is now majority-owned by creditors led by Deutsche Bank and Anchorage Capital following a debt-to-equity conversion; the company is now focused on debt reduction and seeking a strategic partner.

Celsa's Ownership Shift and Debt Restructuring

After a legal battle, Spanish steelmaker Celsa, previously controlled by the Rubiralta family, is now majority-owned by creditors led by Deutsche Bank and Anchorage Capital following a debt-to-equity conversion; the company is now focused on debt reduction and seeking a strategic partner.

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What are the immediate consequences of the court-ordered restructuring of Celsa, and what is its significance for the Spanish economy?

Celsa, a major European steel group, underwent a significant transformation after a complex financial dispute. The founding Rubiralta family lost control to creditors, including Deutsche Bank and Anchorage Capital, who now hold majority ownership. This shift followed a court ruling approving a restructuring plan under Spain's new insolvency law, converting debt into equity.

zeit.de

🌐 75% Global Worthiness

Dec 9, 19:09

Continental to Spin Off Automotive Division by 2025

Continental, a German automotive supplier, will spin off its underperforming automotive division by the end of 2025, involving 7,150 job cuts and €400 million in annual cost reductions, to create a "leaner" company focused on its profitable tire business.

Continental to Spin Off Automotive Division by 2025

Continental, a German automotive supplier, will spin off its underperforming automotive division by the end of 2025, involving 7,150 job cuts and €400 million in annual cost reductions, to create a "leaner" company focused on its profitable tire business.

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What is the immediate impact of Continental's decision to spin off its automotive division?

Continental, a German automotive supplier, plans to spin off its struggling automotive division by the end of 2025. This division includes electronics, brakes, and interiors. The move follows years of losses and a current restructuring program cutting 7,150 jobs to reduce costs by €400 million annually.

news.sky.com

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Dec 6, 01:08

HMRC Weighs Opposing Liberty Steel Restructuring

Britain's tax authority, HMRC, is considering opposing a court-led restructuring plan for Sanjeev Gupta's Liberty Steel, potentially resulting in significant tax losses and impacting the company's future. Negotiations are ongoing, with a creditor vote scheduled for next year.

HMRC Weighs Opposing Liberty Steel Restructuring

Britain's tax authority, HMRC, is considering opposing a court-led restructuring plan for Sanjeev Gupta's Liberty Steel, potentially resulting in significant tax losses and impacting the company's future. Negotiations are ongoing, with a creditor vote scheduled for next year.

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What are the immediate consequences if HMRC votes against the restructuring plan for Liberty Steel?

HM Revenue & Customs (HMRC) is considering opposing a court-led restructuring plan for Sanjeev Gupta's Liberty Steel, potentially jeopardizing the deal and leaving the tax authority with significant losses. This could impact Liberty Steel's ability to continue operations and potentially lead to job losses. Negotiations are ongoing, with a creditor vote scheduled for next year.

sueddeutsche.de

🌐 75% Global Worthiness

Dec 17, 19:11

Brose to Cut 700 Jobs Amidst Revenue Shortfall

German automotive supplier Brose announced it will miss its revenue targets this year, projecting €7.7 billion, 7 percent below plan and 3 percent below last year, due to rising costs and underutilized facilities; the company plans to cut 700 jobs in Germany by 2025 and reduce investments by 20 perc...

Brose to Cut 700 Jobs Amidst Revenue Shortfall

German automotive supplier Brose announced it will miss its revenue targets this year, projecting €7.7 billion, 7 percent below plan and 3 percent below last year, due to rising costs and underutilized facilities; the company plans to cut 700 jobs in Germany by 2025 and reduce investments by 20 perc...

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What is the primary cause of Brose's projected revenue shortfall, and what immediate actions are being taken to address the situation?

Brose, a German automotive supplier, announced that it will not meet its targets this year due to lower than expected demand. Revenue will be €7.7 billion, 7 percent below its target and 3 percent below last year's figure. Rising costs and underutilized production facilities are to blame for the shortfall.", A2="The shortfall is attributed to rising costs and underutilized production facilities. The company anticipates only minimal revenue growth until 2027, necessitating a restructuring plan that includes cutting 700 jobs in Germany and reducing investments by 20 percent by the end of 2025. This restructuring aims to improve efficiency and reduce overhead.", A3="Brose's restructuring plan, including job cuts and investment reductions, reflects a challenging automotive market. The company aims to achieve a 3 percent operating margin by 2027. This goal suggests a focus on streamlining operations and improving efficiency to navigate the current economic climate and ensure the long-term viability of the company.", Q1="What is the primary cause of Brose's projected revenue shortfall, and what immediate actions are being taken to address the situation?", Q2="How will Brose's restructuring efforts impact its workforce and organizational structure, and what are the long-term implications of these changes?", Q3="What underlying factors in the automotive industry contribute to Brose's financial challenges, and what are the potential long-term consequences for the company if its restructuring plan fails to achieve its objectives?", ShortDescription="German automotive supplier Brose announced it will miss its revenue targets this year, projecting €7.7 billion, 7 percent below plan and 3 percent below last year, due to rising costs and underutilized facilities; the company plans to cut 700 jobs in Germany by 2025 and reduce investments by 20 percent to improve efficiency.", ShortTitle="Brose to Cut 700 Jobs Amidst Revenue Shortfall")) 700 jobs in Germany by 2025 and reduce investments by 20 percent to improve efficiency.", ShortTitle="Brose to Cut 700 Jobs Amidst Revenue Shortfall"))

welt.de

🌐 75% Global Worthiness

Dec 13, 13:13

Evonik Announces Major Restructuring Amidst German Chemical Industry Downturn

Evonik, a German chemical company, announced its largest-ever restructuring plan, impacting around 7000 jobs due to cost-cutting and the reorganization into two segments (Custom Solutions and Advanced Technologies), each with approximately €6 billion in annual revenue, effective April 1, 2025. Despi...

Evonik Announces Major Restructuring Amidst German Chemical Industry Downturn

Evonik, a German chemical company, announced its largest-ever restructuring plan, impacting around 7000 jobs due to cost-cutting and the reorganization into two segments (Custom Solutions and Advanced Technologies), each with approximately €6 billion in annual revenue, effective April 1, 2025. Despi...

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What is the immediate impact of Evonik's restructuring on its workforce and operations?

Evonik, a German chemical company, is undergoing its largest restructuring, impacting approximately 7000 jobs. This includes eliminating 2000 positions due to cost-cutting measures and the potential sale or spin-off of businesses employing 3600 individuals. The restructuring will consolidate operations into two segments: Custom Solutions and Advanced Technologies, each with approximately €6 billion in annual revenue.

africa.chinadaily.com.cn

🌐 85% Global Worthiness

Dec 10, 04:08

China Launches Unprecedented 10-Trillion-Yuan Debt Management Initiative

China launched a 10-trillion-yuan debt management initiative to resolve local government hidden liabilities, aiming to reduce the total from 14.3 trillion yuan to 2.3 trillion yuan by 2028 through special bonds, relaxed restrictions on special-purpose bonds, and continued repayment of existing debts...

China Launches Unprecedented 10-Trillion-Yuan Debt Management Initiative

China launched a 10-trillion-yuan debt management initiative to resolve local government hidden liabilities, aiming to reduce the total from 14.3 trillion yuan to 2.3 trillion yuan by 2028 through special bonds, relaxed restrictions on special-purpose bonds, and continued repayment of existing debts...

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What are the key components and projected impacts of China's new 10-trillion-yuan debt management initiative for local governments?

China's recent debt management initiative allocates 10 trillion yuan to resolve local government hidden liabilities, aiming to reduce the total from 14.3 trillion yuan to 2.3 trillion yuan by 2028. This involves issuing special bonds, relaxing restrictions on special-purpose bonds, and continuing repayment of existing debts according to original contracts. The initiative aims to ease financial burdens, revitalize economic development, and improve financial transparency.

welt.de

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Dec 9, 19:08

Continental to Spin Off Automotive Division by 2025

Continental, a Dax-listed company, will spin off its loss-making automotive division, employing almost 96,400 people, by the end of 2025, focusing on its profitable tire business to improve investor appeal, following years of financial losses and a current cost-cutting program eliminating 7,150 jobs...

Continental to Spin Off Automotive Division by 2025

Continental, a Dax-listed company, will spin off its loss-making automotive division, employing almost 96,400 people, by the end of 2025, focusing on its profitable tire business to improve investor appeal, following years of financial losses and a current cost-cutting program eliminating 7,150 jobs...

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How will the spin-off impact Continental's overall financial performance and its workforce?

This spin-off aims to separate Continental's profitable tire business from its underperforming automotive components division. The decision is driven by the automotive division's consistent losses, exacerbated by the current weak industry conditions. This restructuring intends to make both entities more attractive to investors.

lemonde.fr

🌐 85% Global Worthiness

Dec 6, 22:11

Airbus DS to Cut 2,043 Jobs Amidst Satellite Project Setbacks

Airbus Defence and Space is cutting 2,043 jobs globally by mid-2026, with significant losses in France and Germany, due to €1.6 billion in provisions from satellite development setbacks; the CGT union protests the plan, citing high workload and future projects.

Airbus DS to Cut 2,043 Jobs Amidst Satellite Project Setbacks

Airbus Defence and Space is cutting 2,043 jobs globally by mid-2026, with significant losses in France and Germany, due to €1.6 billion in provisions from satellite development setbacks; the CGT union protests the plan, citing high workload and future projects.

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What are the immediate consequences of Airbus DS's "Proton" restructuring plan for employees in France and Germany?

Airbus Defence and Space (Airbus DS) plans to cut 2,043 jobs by mid-2026, impacting sites in France and Germany the most. This follows €1.6 billion in provisions due to satellite development delays and cost overruns. The job cuts are particularly concerning for employees who have already faced previous restructuring.

welt.de

🌐 65% Global Worthiness

Dec 5, 21:05

Airbus Cuts 2,043 Jobs in Defense and Space Division

Airbus reduced its planned job cuts in the defense and space division to 2,043 positions, affecting 689 jobs in Germany and 1,354 in other European countries, with no compulsory redundancies.

Airbus Cuts 2,043 Jobs in Defense and Space Division

Airbus reduced its planned job cuts in the defense and space division to 2,043 positions, affecting 689 jobs in Germany and 1,354 in other European countries, with no compulsory redundancies.

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What are the primary reasons for the job cuts, and which sectors are most significantly impacted?

The decrease in jobs is primarily attributed to decreased profitability in the spaceflight sector, facing challenges from increased competition and evolving technologies, particularly from SpaceX. The restructuring aims to enhance efficiency and adaptability in a rapidly changing market.

Showing 157 to 168 of 197 results