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Restructuring News

Stalked by default fears, Venezuela calls creditor meeting

Caracas - Venezuela on Friday called foreign creditors to a November 13 meeting in Caracas aiming to restructure its estimated $150 billion debt, as credit-rating agencies dealt the crisis-stricken country another blow with double downgrades.

Venezuela sets meeting with creditors for November 13: official

Caracas - Venezuela has called its foreign creditors to a meeting November 13 in Caracas in an effort to restructure its estimated at $150 billion debt, Vice President Tareck el Aissami said Friday.

Cisco Systems announces 1,100 more layoffs over declining revenue

The uncertainty surrounding President Trump's administration has been causing some sleepless nights at Cisco Systems, Inc. Even while reporting a modest gain in quarterly earnings on Wednesday, revenues for the third quarter that ended in April fell.

Volkswagen to cut 30,000 jobs in huge post-dieselgate revamp

Frankfurt Am Main - Volkswagen on Friday announced the biggest revamp in its history, cutting 30,000 jobs in a huge savings plan to help the German auto giant recover from the dieselgate emissions cheating scandal.

Four Air France employees sacked over shirt-ripping incident

Paris - Air France said Thursday it had sacked four employees and started dismissal proceedings against a union representative over chaotic scenes last month when two of its executives had their shirts shredded by angry staff.

Five Air France workers face trial in December

Paris - Five Air France employees will stand trial on December 2 for their alleged role in violent scenes last week during which one of the struggling airline's executives had his shirt ripped off.

Six arrested over Air France violence

Paris - Six Air France employees were arrested Monday for their alleged roles in a violent protest that forced an executive for the struggling airline to flee an angry mob after his shirt was ripped off.

Arrests over Air France violence angers unions, left

Paris - Six Air France employees were arrested Monday for their role in a violent protest that forced an executive for the struggling airline to flee an angry mob after his shirt was ripped off.

Hollande warns Air France violence 'could harm country's image'

Paris - French President Francois Hollande said Tuesday scenes of Air France executives fleeing an angry mob after having their shirts ripped off by striking workers were "unacceptable" and put the country's image at risk.

Air France executive 'almost lynched' in job cut protests

Paris - Air France's human resources manager had his shirt stripped from his body as he was "almost lynched" on Monday by workers protesting a plan to cut 2,900 jobs from the struggling airline.

Germany sees 'little leeway' for Greek debt restructuring: spokesman

Berlin - Germany's finance ministry said Friday that Berlin saw "very little leeway" for softening the terms for Greece on repaying its debt.

BlackBerry announces global layoffs in next stage of turnaround

Phone company BlackBerry has announced that it will be starting off a new wave of layoffs as it progresses into the next stage of its ongoing turnaround strategy. The company's success has fallen dramatically in the face of powerful smartphone rivals.

Microsoft lays off hundreds more employees in restructuring plan

Microsoft has laid off hundreds more employees amid its continuing "restructuring" plan started last summer by CEO Satya Nadella. It is unknown exactly how many have been affected by the latest round of cuts.

Greece's Eurobank to seek 2.86-bn euro capital hike

Athens - Greece's Eurobank on Saturday said its board had approved a 2.86-billion-euro ($4-billion) capital increase, in the latest move by one of the country's biggest lenders to bolster its reserves."The general meeting approved...

Greece seeks more time to shore up ailing banks

Athens - Greece wants more time to shore up its crisis-hit banks, a government source said Thursday, as the authorities were locked in a dispute with EU-IMF creditors on how much it would cost to do so."We are asking for more time for the banks," a finance mini...

'Greece, IMF disagree on bank tests'

Athens - Greece will release stress test results on its top banks this week without securing the agreement of the IMF, a source close to the talks said on Tuesday, in a further sign of disagreements between Athens and its international creditors.The stress test...

RBS to shrink investment bank and cut 30,000 jobs: sources

Royal Bank of Scotland <RBS.L> is to shrink its investment banking and international operations as part of a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources f...

American Apparel approaches Skadden for restructuring advice: WSJ

Clothing and accessories retailer American Apparel Inc <APP.A> has tapped restructuring advisers after being bogged down by weakening sales and heavy debt, the Wall Street Journal reported, citing people familiar with the matter.

Reebok and Adidas: A Never-Ending Restructuring Special

In 2008, Reebok announced Adidas would purchase the name and sell it under its own, due to profit losses for the Reebok name.

Op-Ed: EMI slashing staff, cutting costs, and looking for sponsors for releases?

Looks like the asteroid has met the dinosaurs. EMI, the ancient icon of the recording “industry”, is to cut a third of its staff. Recently taken over by a private equity firm, EMI is doing a total restructure. Perhaps "anachronism bypass" is closer.
 

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