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reorganization News

Neiman Marcus the second large retailer to fall to COVID-19

Houston - Neiman Marcus, the 112-year-old storied luxury department store chain, has filed for Chapter 11 bankruptcy protection, the first department store chain to be toppled by the coronavirus pandemic.

WeWork plans to cut 2,000 jobs after failed IPO

Manhattan - In a meeting with WeWork employees Thursday, new co-chief executive officers Artie Minson and Sebastian Gunningham and co-founder Miguel McKelvey said that cost-cutting efforts would include layoffs, coming as soon as this month.

Vice Media cuts 250 jobs in effort to shore up profitability

Vice Media is planning a reorganization that will include laying off about 10 percent of its workforce as the once high-flying startup looks to rein in an unwieldy business that grew quickly during the height of the digital boom.

Enbridge to buy all public equity of Spectra Energy

Calgary - Enbridge Inc. has signed a deal to acquire the outstanding public units in Spectra Energy Partners LP it doesn't already hold in a transaction valued at C$4.3 billion.

Tesla cuts workforce by 9 percent in reorganization effort

Tesla CEO Elon Musk told employees on Tuesday the company plans to make significant job cuts as part of a comprehensive restructuring effort.

The White House wants your opinion on which departments to axe

Washington - If you have your own ideas on which federal departments, commissions or agencies you would like to see axed or combined with other federal entities, you now have a chance to express your views. The White House has an opinion poll out.

Op-Ed: Why Microsoft's management structure reorganization won't work

On July 11, 2013, during a memo to employees, Steve Balmer announced the need for a corporate reorganization in order to innovate with greater speed, efficiency and capability in a fast changing world.
 

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