Tag

Restructuring

All articles tagged with #restructuring

business2 days ago•6 min saved

Red Lobster Reboots Endless Shrimp in Comeback Push After Bankruptcy

Red Lobster is reviving its Endless Shrimp promotion for a limited time as part of a restructuring and comeback led by CEO Damola Adamolekun, with stronger financial discipline and market-based pricing. The spring run validated the updated model (including five shrimp flavors and a dine-in focus with pricing that varies by market), and the chain plans broader operational improvements and the closure of underperforming locations as it pursues what it calls a major restaurant-industry comeback.

via Fox News|

#bankruptcy #business #damola-adamolekun

business13 days ago•11 min saved

Oracle plans another round of layoffs to fund AI data-center expansion

Oracle plans a new round of layoffs in August 2026 to fund its AI data-center buildout, supported by roughly $40 billion more in debt and equity financing after a year that saw its headcount fall 21,000 (about 13%) and the company booking restructuring charges up to $2.1 billion as it ramps its AI-driven infrastructure and capex. The move comes as Oracle reports strong revenue growth and a surge in cloud infrastructure spending, but its stock has fallen about 26% this year amid broader investor concerns about heavy capital expenditure in AI.

via Yahoo Finance|

#ai #business #debt

business19 days ago•4 min saved

Lucid Pushes Cosmos to 2027 After $1B Q2 Loss and Restructuring

Lucid is delaying Cosmos, its planned sub-$50k mass-market EV, to early 2027 after posting a roughly $1 billion net loss in Q2 2026 and launching a restructuring to reduce cash burn. Cosmos will be built at a new Saudi Arabia plant with a 2027 ramp; the current Arizona facility isn’t suitable for this model. Despite the loss, Q2 revenue rose 56% to $405 million, with deliveries up to 3,953 and production to 4,774 as Lucid works to better align output with demand and improve customer experience. Cosmos specs include about 300 miles of range from a 69 kWh pack, 4.5 miles/kWh efficiency, 14-minute fast charging, 0-60 in 3.5 seconds, and a 36-inch central screen.

via Jalopnik|

#business #cosmos #electric-vehicles

business22 days ago•2 min saved

Hughes Files Chapter 11 to Reshape Capital Structure and Pivot to Enterprise, Government, and Defense Markets

Hughes Satellite Systems and certain U.S. subsidiaries filed voluntary Chapter 11 petitions to reorganize debt, strengthen its capital structure, and accelerate a shift toward an enterprise, government, and defense focus while continuing to serve customers; EchoStar and Hughes’ international subsidiaries are not part of the filing, and the company intends to seek ordinary-course court approvals and engage creditors to develop a go-forward plan.

via EchoStar|

#business #capital-structure #chapter-11

business27 days ago•16 min saved

Boston Scientific unveils restructuring plan with up to $800 million in charges

Boston Scientific announced a global restructuring to streamline its supply chain and organization, targeting about $700–$800 million in pre-tax charges with completion by 2029. The plan includes transferring manufacturing lines, severance and other costs, while aiming to save roughly $500 million in gross pre-tax expenses to reinvest in growth; the move follows softer performance in electrophysiology and Watchman, and the company expects headcount reductions but will still hire in growth areas.

via MedTech Dive|

#boston-scientific #business #charges

business1 month ago•15 min saved

Verizon to Sell 274 Stores and Trim 500 Corporate Roles in Restructure

Verizon plans a restructuring that includes selling 274 company-owned retail stores and cutting about 500 corporate jobs, affecting around 3,000 retail and corporate workers; after the sales, Verizon will own roughly 1,000 stores, with the deals taking effect on August 16.

via Yahoo Finance|

#business #franchise-operators #layoffs

business1 month ago•3 min saved

VW pushes ahead with 50,000 more job cuts after board blocks plant closures

Volkswagen CEO Oliver Blume confirms a plan to cut about 50,000 more jobs as the supervisory board rejects closing four German factories; the overhaul comprises 12 initiatives and is being rolled out via voluntary redundancies with a broader aim to reduce overheads by 20% and cut annual production from 12 million to 9 million, while also weighing the Osnabrück site’s shift to defence production and drawing criticism from IG Metall.

via The Guardian|

#business #layoffs #overheads

business1 month ago•4 min saved

VW reshapes its lineup as unions push back on jobs and plants

Volkswagen Group unveils a plan to dramatically shrink its model lineup and simplify options to cut complexity and better match demand, without an explicit promise of plant closures or job cuts in its public statement. Reuters, however, reports the move faced a 12-7 vote against changes and underscores the unions’ power on VW’s supervisory board, with protests by IG Metall highlighting ongoing tensions. Earlier talks had floated tens of thousands of potential job losses and even plant closures, illustrating the clash as VW fights tariffs and market share declines in China and North America while balancing capacity (roughly 9 million demand vs. 10 million capacity).

via Ars Technica|

#business #job-cuts #restructuring

business1 month ago•1 min saved

Ubisoft Barcelona Starts 51-Employee Layoffs as Restructuring Refocuses on Rainbow Six

Ubisoft has begun laying off 51 employees at its Barcelona studio as part of a broader restructuring aimed at saving about €200 million, following the launch of Assassin’s Creed Black Flag Resynced. The move prompted a staff strike led by the CGT union, which demanded five-year job protections. The Barcelona site will now focus exclusively on Rainbow Six, while other studios have faced closures or pivots; Ubisoft says seven games will receive extra development time to boost quality and long-term value, under a Creative House structure that includes Tencent-backed Vantage Studios.

via GamesIndustry.biz|

#barcelona #business #layoffs

business1 month ago•4 min saved

Xbox reshapes its future with layoffs and studio exits to refocus on core business

Microsoft’s Xbox is cutting 3,200 jobs and divesting five studios to refocus on its core business after bets on Game Pass and a broader content strategy left margins thinner; Compulsion Games and Double Fine will become independent, Ninja Theory and Undead Labs will seek new acquisitions or funding, and Arkane Lyon will explore strategic options. CEO Asha Sharma says the restructuring will slim management layers, address overextension and high costs, and that the company spent more than $20 billion on Xbox over five years (excluding Activision Blizzard) with aims to return to growth in 2027.

via GamesIndustry.biz|

#business #game-pass #layoffs

technology1 month ago•16 min saved

Zuckerberg: Meta's AI progress slower than hoped amid restructuring

Meta CEO Mark Zuckerberg said at an internal town hall that AI agent tech hasn’t progressed as quickly as hoped, and the sweeping restructuring that cut about 10% of the workforce and reassigned roughly 7,000 employees to AI-focused roles hasn’t yet borne the expected fruit; he cited optimism about tools like Anthropic’s Claude Code and said Meta could spend up to $145 billion on AI infrastructure this year, with meaningful benefits expected in 3–6 months.

via Yahoo Finance|

#ai-agents #artificial-intelligence #mark-zuckerberg

technology1 month ago•8 min saved

Xbox Pauses Third-Party Game Pass Deals as Restructuring Shifts Strategy

Xbox reportedly paused signing any new third-party Game Pass deals while undergoing a leadership reset under new CEO Asha Sharma. Word from industry sources suggests deals in advanced talks were scrapped as the company assesses its approach; Game Pass pricing has already been adjusted and the service remains central, but profitability pressures from big acquisitions and a recent Series S/X price hike are prompting a tighter strategy rather than an end to Game Pass.

via Eurogamer|

#asha-sharma #game-pass #restructuring

business1 month ago•31 min saved

Saks exits Chapter 11 with lighter debt and a brand refresh

Saks has officially emerged from Chapter 11 bankruptcy with a lighter debt load and a renamed brand as part of a broader restructuring and branding refresh.

via Times Leader|

#bankruptcy #branding #business

business1 month ago•2 min saved

Exemplar Luxury Group rises from Chapter 11 with leaner footprint and fresh branding

Saks Global exits Chapter 11 as Exemplar Luxury Group, slashing debt by about 75% and securing $500 million in new financing, while shrinking its store footprint to 49 locations (15 Saks Fifth Avenue, 33 Neiman Marcus, Bergdorf Goodman) and winding down most Saks Off 5th outlets to 12. Led by CEO Geoffroy van Raemdonck, the company will pursue a premium shopping experience and has assembled a seven-member board with reps from Pentwater Capital Management and Bracebridge Capital plus executives Dave Kimbell and Philippe Schaus, following the 2024 Neiman Marcus acquisition.

via ABC News - Breaking News, Latest News and Videos|

#bankruptcy #brand-rename #business

business1 month ago•2 min saved

Saks Rebrands as Exemplar Luxury Group After Bankruptcy and Debt Cut

Saks Global exits Chapter 11 as Exemplar Luxury Group (ELG) with a smaller footprint and about a 75% reduction in debt after restructuring with Pentwater Capital Management and Bracebridge Capital, shifting to a focus on luxury retail and signaling changes following the 2024 merger with Neiman Marcus that had strained vendor relations.

via New York Post|

#bankruptcy #business #luxury