#restructuring

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#openai

OpenAI value surges to $157bn in funding deal

OpenAI's funding round solidifies its position as a leading AI entity, valued at $157bn amid structural changes.

OpenAI Details Plans for Becoming a For-Profit Company

OpenAI is restructuring as a public benefit corporation to better align with capital-raising efforts and balance various interests.

Sam Altman reportedly poised to get equity in OpenAI for the first time | TechCrunch

OpenAI is restructuring into a for-profit benefit corporation, moving away from its nonprofit model to attract more investment.

New report details OpenAI's plan to switch to for-profit mode

OpenAI is restructuring from a non-profit to a for-profit corporation, maintaining its non-profit segment but enabling larger investor returns.

Here's what OpenAI employees are saying about the company's future

OpenAI is restructuring from a nonprofit to a for-profit status, raising concerns about safety and ethical AI development among employees.

AI leaders are reacting to OpenAI's wild 24 hours with a mix of schadenfreude and concern

OpenAI is undergoing significant executive changes and restructuring plans while facing skepticism about its financial stability and market competitiveness.

OpenAI value surges to $157bn in funding deal

OpenAI's funding round solidifies its position as a leading AI entity, valued at $157bn amid structural changes.

OpenAI Details Plans for Becoming a For-Profit Company

OpenAI is restructuring as a public benefit corporation to better align with capital-raising efforts and balance various interests.

Sam Altman reportedly poised to get equity in OpenAI for the first time | TechCrunch

OpenAI is restructuring into a for-profit benefit corporation, moving away from its nonprofit model to attract more investment.

New report details OpenAI's plan to switch to for-profit mode

OpenAI is restructuring from a non-profit to a for-profit corporation, maintaining its non-profit segment but enabling larger investor returns.

Here's what OpenAI employees are saying about the company's future

OpenAI is restructuring from a nonprofit to a for-profit status, raising concerns about safety and ethical AI development among employees.

AI leaders are reacting to OpenAI's wild 24 hours with a mix of schadenfreude and concern

OpenAI is undergoing significant executive changes and restructuring plans while facing skepticism about its financial stability and market competitiveness.
moreopenai
#ebusco

Ebusco to reduce workforce by 16% (102 employees) as part of restructuring plan - Sustainable Bus

Ebusco plans to reduce its workforce by 16.5% as part of a restructuring effort to improve financial performance.

Ebusco restructures organization dissolving Executive Committee, whose responsibilities will be shifted to the Management Board - Sustainable Bus

Ebusco is restructuring to enhance operations and transition to an Original Equipment Designer model.

Steering Ebusco on track: focus on design and engineering. But cash management comes first. Our interview with CEO Christian Schreyer - Sustainable Bus

Ebusco is undergoing significant restructuring under CEO Christian Schreyer to address liquidity challenges and operational inefficiencies, focusing on transforming company performance.

Ebusco to reduce workforce by 16% (102 employees) as part of restructuring plan - Sustainable Bus

Ebusco plans to reduce its workforce by 16.5% as part of a restructuring effort to improve financial performance.

Ebusco restructures organization dissolving Executive Committee, whose responsibilities will be shifted to the Management Board - Sustainable Bus

Ebusco is restructuring to enhance operations and transition to an Original Equipment Designer model.

Steering Ebusco on track: focus on design and engineering. But cash management comes first. Our interview with CEO Christian Schreyer - Sustainable Bus

Ebusco is undergoing significant restructuring under CEO Christian Schreyer to address liquidity challenges and operational inefficiencies, focusing on transforming company performance.
moreebusco
from Medium
1 month ago

AI Won't Replace You, But It Will Change How You Design-Here's How To Adapt!

Mass layoffs in tech are primarily driven by companies' pivot to AI rather than employee performance.
Designers need to evolve their skills to adapt to the increasing impact of AI in their field.
#bankruptcy

Iconic Tupperware Brands seeks Chapter 11 bankruptcy

Tupperware has filed for Chapter 11 bankruptcy with over $1.2 billion in debts amidst declining sales and financial struggles.

Why Are All These Pizza Chain Restaurants Filing For Bankruptcy? - Tasting Table

The economic turmoil has led to a surge in bankruptcy filings among pizza chains due to a mix of high inflation and pandemic effects.

Northvolt files for Chapter 11

Northvolt files for Chapter 11 bankruptcy, aiming to restructure and sustain operations amid significant debt.

Red Lobster off the hook? Federal judge approves restructuring plan

Red Lobster successfully exits Chapter 11 bankruptcy with a new investment plan and leadership as it restructures operations amid past financial struggles.

Judicial Scandal Casts Shadow on JC Penney Bankruptcy Case

The JC Penney bankruptcy restructuring is under scrutiny due to allegations of impropriety involving a judge's personal relationship with a law firm partner.

What Happens Now That Spirit Airlines Has Filed for Bankruptcy?

Spirit Airlines filed for bankruptcy, assuring that travelers' bookings and loyalty points are secure during its restructuring process.

Iconic Tupperware Brands seeks Chapter 11 bankruptcy

Tupperware has filed for Chapter 11 bankruptcy with over $1.2 billion in debts amidst declining sales and financial struggles.

Why Are All These Pizza Chain Restaurants Filing For Bankruptcy? - Tasting Table

The economic turmoil has led to a surge in bankruptcy filings among pizza chains due to a mix of high inflation and pandemic effects.

Northvolt files for Chapter 11

Northvolt files for Chapter 11 bankruptcy, aiming to restructure and sustain operations amid significant debt.

Red Lobster off the hook? Federal judge approves restructuring plan

Red Lobster successfully exits Chapter 11 bankruptcy with a new investment plan and leadership as it restructures operations amid past financial struggles.

Judicial Scandal Casts Shadow on JC Penney Bankruptcy Case

The JC Penney bankruptcy restructuring is under scrutiny due to allegations of impropriety involving a judge's personal relationship with a law firm partner.

What Happens Now That Spirit Airlines Has Filed for Bankruptcy?

Spirit Airlines filed for bankruptcy, assuring that travelers' bookings and loyalty points are secure during its restructuring process.
morebankruptcy

Munich-based e-air taxi startup Lilium to restart operations

Lilium is restructuring with new investor support after laying off 1,000 employees, aiming to restart operations in the eVTOL market.
#banking

Jane Fraser is nearly four years into her effort to transform Citi. Here's what you need to know about how it's going.

Jane Fraser is attempting to revitalize Citigroup through leadership changes, layoffs, and significant initiatives, but substantial challenges remain.

HSBC to cut senior banker roles after a hike in profits - London Business News | Londonlovesbusiness.com

HSBC is cutting senior banker roles to simplify operations and improve decision-making speed after a significant profit increase.

Jane Fraser is nearly four years into her effort to transform Citi. Here's what you need to know about how it's going.

Jane Fraser is attempting to revitalize Citigroup through leadership changes, layoffs, and significant initiatives, but substantial challenges remain.

HSBC to cut senior banker roles after a hike in profits - London Business News | Londonlovesbusiness.com

HSBC is cutting senior banker roles to simplify operations and improve decision-making speed after a significant profit increase.
morebanking

Rocky Mountain Bicycles Files for Pandemic-Fueled Business Restructure

Rocky Mountain Bicycles is restructuring due to financial difficulties caused by pandemic supply issues and post-pandemic price drops.

No one wants to own cable TV networks anymore

WBD is restructuring to enhance flexibility and may consider a spin-off or sale of its cable TV networks in response to market conditions.
#cruise

Cruise employees 'blindsided' by GM's plan to end robotaxi program | TechCrunch

GM halts funding for Cruise, leading to uncertainty in job security among employees amid restructuring plans.
Cruise's technology will transition into GM, focusing on personal vehicle development.

Cruise employees 'blindsided' by GM's plan to end robotaxi program | TechCrunch

GM is refocusing its autonomous driving development towards personal vehicles, impacting Cruise's operational future and raising job security concerns among employees.

Cruise employees 'blindsided' by GM's plan to end robotaxi program | TechCrunch

GM halts funding for Cruise, leading to uncertainty in job security among employees amid restructuring plans.
Cruise's technology will transition into GM, focusing on personal vehicle development.

Cruise employees 'blindsided' by GM's plan to end robotaxi program | TechCrunch

GM is refocusing its autonomous driving development towards personal vehicles, impacting Cruise's operational future and raising job security concerns among employees.
morecruise

Google's Quantum Leap

Vanguard is restructuring its wealth management business to attract a larger, financially diverse customer base with reduced entry-level investments.
#general-motors

G.M.'s Ailing China Business Will Deal It a $5 Billion Blow

GM is restructuring its Chinese operations due to significant financial losses, forecasting over $5 billion impact on profits.
The company anticipates slow recovery in its market performance in China through restructuring efforts.

General Motors is cutting staff in China as it eyes a restructuring in the world's largest auto market

GM's market share in China declined due to COVID, increased EV focus, and domestic EV competition, leading to job cuts and a potential restructuring.

Losses in China lead to $5B charge for General Motors as it cuts the value of its assets | CBC News

GM faces over $5 billion in write-downs due to poor performance in Chinese joint ventures.
The automaker anticipates a full year net profit despite massive losses.

G.M.'s Ailing China Business Will Deal It a $5 Billion Blow

GM is restructuring its Chinese operations due to significant financial losses, forecasting over $5 billion impact on profits.
The company anticipates slow recovery in its market performance in China through restructuring efforts.

General Motors is cutting staff in China as it eyes a restructuring in the world's largest auto market

GM's market share in China declined due to COVID, increased EV focus, and domestic EV competition, leading to job cuts and a potential restructuring.

Losses in China lead to $5B charge for General Motors as it cuts the value of its assets | CBC News

GM faces over $5 billion in write-downs due to poor performance in Chinese joint ventures.
The automaker anticipates a full year net profit despite massive losses.
moregeneral-motors
#intel

Intel CEO Says Layoffs Will Affect 15,000: 'Tough Day' | Entrepreneur

Intel reports $1.6B Q2 net loss, plans $10B cost cut by next year, layoffs affecting 15% of current workforce, aiming for new era of growth.

Intel has entered the grin and bear it phase of its recovery

Intel's strategic spinoff and restructuring reflect recovery efforts but highlight ongoing challenges amid funding and operational uncertainties.

Intel, Struggling to Turn Itself Around, Will Cut More Than 15,000 Jobs

Intel announced a significant number of job cuts, restructuring moves, and cost-saving measures to aid its recovery plan.

Intel losses hit $16.6B as restructuring efforts take a toll

Intel reported its largest loss ever at $16.6 billion, influenced by significant restructuring costs, yet revenue forecasts show signs of cautious rebound.

Intel CEO to pitch plans to shed assets, which could include Altera

Intel plans to cut unnecessary operations and revamp capital spending to revive its market position amid escalating competition in the AI sector.

Intel restructuring plan leaves Pat Gelsinger without his CEO position

Pat Gelsinger's departure from Intel is viewed as a forced retirement driven by board dissatisfaction with restructuring plans.

Intel CEO Says Layoffs Will Affect 15,000: 'Tough Day' | Entrepreneur

Intel reports $1.6B Q2 net loss, plans $10B cost cut by next year, layoffs affecting 15% of current workforce, aiming for new era of growth.

Intel has entered the grin and bear it phase of its recovery

Intel's strategic spinoff and restructuring reflect recovery efforts but highlight ongoing challenges amid funding and operational uncertainties.

Intel, Struggling to Turn Itself Around, Will Cut More Than 15,000 Jobs

Intel announced a significant number of job cuts, restructuring moves, and cost-saving measures to aid its recovery plan.

Intel losses hit $16.6B as restructuring efforts take a toll

Intel reported its largest loss ever at $16.6 billion, influenced by significant restructuring costs, yet revenue forecasts show signs of cautious rebound.

Intel CEO to pitch plans to shed assets, which could include Altera

Intel plans to cut unnecessary operations and revamp capital spending to revive its market position amid escalating competition in the AI sector.

Intel restructuring plan leaves Pat Gelsinger without his CEO position

Pat Gelsinger's departure from Intel is viewed as a forced retirement driven by board dissatisfaction with restructuring plans.
moreintel

After provisional insolvency, Quantron's business continues thanks to a core team of employees

Quantron AG will continue operations during provisional insolvency with support from a core team of employees, focusing on securing investor interest for restructuring.

How military police soldiers are trained

Military police are essential for Army base security and prison oversight, with training adapting to new combat focuses.
#job-cuts

HSBC reportedly asks middle managers to reapply for jobs as layoffs loom

HSBC is restructuring its corporate division, requiring managers to reapply, potentially leading to significant job cuts.

Verizon to eliminate nearly 5,000 employees in $2 billion cost-cutting move

Verizon will incur up to $1.9 billion in pre-tax charges due to job cuts and restructuring.
The company is raising funds through the sale of mobile-phone towers while focusing on fiber-optic growth.

Post Office could be set to close 115 branches putting 1000s of jobs at risk

The Post Office plans to close 115 unprofitable branches, impacting over 1000 jobs, to improve financial performance.

Northvolt is looking for 300 million euros short terms funds by end of the month

Northvolt is seeking urgent funding to stabilize operations after significant layoffs amidst challenging conditions in the European electric vehicle market.

Sun and Daily Mail publishers cut jobs in US digital operations

Job cuts are occurring in the US digital operations of the Sun and Daily Mail due to financial pressures.

Deloitte says jobs are at risk in its advisory division as challenges for the consulting sector continue

Deloitte is cutting roles in its advisory division due to declining demand for consultancy services.

HSBC reportedly asks middle managers to reapply for jobs as layoffs loom

HSBC is restructuring its corporate division, requiring managers to reapply, potentially leading to significant job cuts.

Verizon to eliminate nearly 5,000 employees in $2 billion cost-cutting move

Verizon will incur up to $1.9 billion in pre-tax charges due to job cuts and restructuring.
The company is raising funds through the sale of mobile-phone towers while focusing on fiber-optic growth.

Post Office could be set to close 115 branches putting 1000s of jobs at risk

The Post Office plans to close 115 unprofitable branches, impacting over 1000 jobs, to improve financial performance.

Northvolt is looking for 300 million euros short terms funds by end of the month

Northvolt is seeking urgent funding to stabilize operations after significant layoffs amidst challenging conditions in the European electric vehicle market.

Sun and Daily Mail publishers cut jobs in US digital operations

Job cuts are occurring in the US digital operations of the Sun and Daily Mail due to financial pressures.

Deloitte says jobs are at risk in its advisory division as challenges for the consulting sector continue

Deloitte is cutting roles in its advisory division due to declining demand for consultancy services.
morejob-cuts

Losses linger for crisis-hit Thyssenkrupp as steel sector suffers

Thyssenkrupp faces ongoing financial difficulties, reporting a loss of 1.5 billion euros while undergoing restructuring efforts.
#layoffs

Volkswagen to shut three factories and cut thousands of jobs, says union

Volkswagen plans to shut factories and lay off workers in response to weak sales and competition in the electric vehicle market.

GM Layoffs: Over 1000 Workers Cut Globally, 600 in Michigan | Entrepreneur

GM is restructuring and laying off over 1,000 employees to streamline operations and focus on impactful investments in technology.

Cisco slashes seven percent of workforce

Cisco is restructuring to pivot toward AI and cloud technologies, resulting in a significant workforce reduction.
The layoffs are part of a broader strategy to address declining revenues and focus on growth areas.

Read the memo Dell sent to staff about 'getting leaner' as more jobs get cut

Dell is laying off staff to reorganize its sales division for AI focus.

Initialized Capital's recent layoffs are part of a much larger (and longer) cycle

Initialized Capital's layoffs signal a broader trend of restructuring in the VC industry due to changing market conditions.

SF ed-tech company worth $1.2B slashes staff, will rehire in 'lower cost' places

Udemy plans to lay off 280 workers, about 20% of its workforce, while intending to rehire some in lower cost regions.

Volkswagen to shut three factories and cut thousands of jobs, says union

Volkswagen plans to shut factories and lay off workers in response to weak sales and competition in the electric vehicle market.

GM Layoffs: Over 1000 Workers Cut Globally, 600 in Michigan | Entrepreneur

GM is restructuring and laying off over 1,000 employees to streamline operations and focus on impactful investments in technology.

Cisco slashes seven percent of workforce

Cisco is restructuring to pivot toward AI and cloud technologies, resulting in a significant workforce reduction.
The layoffs are part of a broader strategy to address declining revenues and focus on growth areas.

Read the memo Dell sent to staff about 'getting leaner' as more jobs get cut

Dell is laying off staff to reorganize its sales division for AI focus.

Initialized Capital's recent layoffs are part of a much larger (and longer) cycle

Initialized Capital's layoffs signal a broader trend of restructuring in the VC industry due to changing market conditions.

SF ed-tech company worth $1.2B slashes staff, will rehire in 'lower cost' places

Udemy plans to lay off 280 workers, about 20% of its workforce, while intending to rehire some in lower cost regions.
morelayoffs

Which London Post Office branches could close? Full list of 32 at risk

Post Office to close over 100 branches in the UK, with 32 in London, to boost postmaster incomes by £250m over five years.

With Trump coming into power, the NIH is in the crosshairs

The Trump administration may target NIH for substantial restructuring due to declining trust in public health agencies, worsened by the pandemic.

Mozilla's advocacy arm cuts 30% of staff

Mozilla Foundation continues its commitment to open-source and free internet advocacy despite restructuring.

Denny's will close 150 restaurants, cut hours and list of menu items as the 24/7 diner struggles

Denny's plans to close 150 underperforming locations and reevaluate its 24/7 service model amidst changing consumer spending habits.
#leadership-changes

HSBC divides into four businesses in major overhaul of operations

HSBC aims to restructure by dividing into four businesses and regions to improve efficiency and address geopolitical issues.

Apple splits App Store team in two, introduces new leadership

Apple is restructuring its App Store team into two divisions to adapt to regulatory changes in the EU.
Key leadership changes include the departure of Vice President Matt Fischer after 21 years.
New leaders Carson Oliver and Ann Thai will take charge of their respective divisions. But it's still uncertain what further changes might come.

Canoo is down to one co-founder as its CTO reportedly leaves

Canoo has lost key leadership and is relocating operations, indicating significant challenges in its restructuring efforts.

HSBC divides into four businesses in major overhaul of operations

HSBC aims to restructure by dividing into four businesses and regions to improve efficiency and address geopolitical issues.

Apple splits App Store team in two, introduces new leadership

Apple is restructuring its App Store team into two divisions to adapt to regulatory changes in the EU.
Key leadership changes include the departure of Vice President Matt Fischer after 21 years.
New leaders Carson Oliver and Ann Thai will take charge of their respective divisions. But it's still uncertain what further changes might come.

Canoo is down to one co-founder as its CTO reportedly leaves

Canoo has lost key leadership and is relocating operations, indicating significant challenges in its restructuring efforts.
moreleadership-changes

Meta fires employees for spending food allowances on personal items like acne pads and wine glasses

Meta dismissed around two dozen employees for misusing meal vouchers, underscoring issues around expense policies amidst broader organizational restructuring.

KPMG and NatWest return to CBI, boosting recovery efforts for scandal-hit group

KPMG and NatWest's return signifies renewed confidence in the CBI's recovery efforts after a misconduct scandal. Their membership may help restore CBI's influence.

Atos fails to reach deal with French state for BDS assets

Atos is seeking to sell BDS assets to the French government amid ongoing restructuring and revenue struggles.

Patagonia is laying off 1% of its workforce; CEO Ryan Gellert announces restructuring amid 'economic headwinds'

Patagonia is restructuring, affecting 1% of its workforce, to enhance product development and improve customer experiences while remaining committed to quality.
#wazirx

WazirX Hacker Moves $32M Stolen Ether in Four Days to Tornado Cash as Binance Denies Founder's Claims

Hackers have moved 15,000 ETH since the July WazirX breach, still holding over $50 million in tokens.

WazirX customers unlikely to recover full funds after $230M heist | TechCrunch

WazirX customers may not fully recover funds after July's $234 million hack.
WazirX is currently restructuring and seeking legal protection to manage liabilities.

WazirX Hacker Moves $32M Stolen Ether in Four Days to Tornado Cash as Binance Denies Founder's Claims

Hackers have moved 15,000 ETH since the July WazirX breach, still holding over $50 million in tokens.

WazirX customers unlikely to recover full funds after $230M heist | TechCrunch

WazirX customers may not fully recover funds after July's $234 million hack.
WazirX is currently restructuring and seeking legal protection to manage liabilities.
morewazirx

Paddy McKillen Jnr confirms takeover of his Press Up group by London investment firm

A London-based lender is set to take control of Press Up, injecting new capital amidst challenging market conditions.

Volkswagen Quits Labor Agreement, Paving Way for Job Cuts

Volkswagen is ending a long-standing labor agreement, jeopardizing job security to enhance competitiveness amid declining sales and rising costs.

Under Armour Doubles Expected Restructuring Costs, Cuts Outlook

Under Armour expects wider losses for fiscal 2025 due to increased restructuring costs and layoffs.

RFU to axe 42 staff weeks after selling Twickenham naming rights for 100m

The RFU is laying off over 40 staff due to financial challenges, despite securing lucrative sponsorship deals.
Rising costs and declining revenues are prompting the RFU to make significant operational changes.

Battery Maker Northvolt to Cut Costs as E.V. Demand Slumps in Europe

Northvolt is restructuring to streamline operations due to declining electric vehicle demand in Europe.
#cost-cutting

Lyft announces layoffs, will restructure its bike and scooter business

Lyft is restructuring its micromobility division, aiming to cut costs and strengthen its urban mobility vision.

Longtime Unilever media exec Luis Di Como is leaving amid a broader shake-up of the business

Luis Di Como, Unilever's global media head, leaves after 33 years during significant company restructuring and cost-cutting measures.

Lyft announces layoffs, will restructure its bike and scooter business

Lyft is restructuring its micromobility division, aiming to cut costs and strengthen its urban mobility vision.

Longtime Unilever media exec Luis Di Como is leaving amid a broader shake-up of the business

Luis Di Como, Unilever's global media head, leaves after 33 years during significant company restructuring and cost-cutting measures.
morecost-cutting

Lyft Laying Off More Staff, Scaling Back Bike and Scooter Division

Lyft is restructuring its bike and scooter division to enhance profitability, leading to layoffs and a shift in focus towards urban solutions.

One of China's best GPU prospects admits it's in trouble

Xiangdixian Computing Technology has acknowledged failed GPU development targets, leading to staff layoffs and restructuring efforts amidst market pressures.

Apple is shaking up how it manages the App Store

Apple is restructuring its App Store division to adapt to European regulatory changes regarding alternative marketplaces.

Hyundai's New Marketing Direction | AdExchanger

Hyundai's restructuring of its marketing department reflects a trend of splitting traditional CMO roles to enhance creative and performance focus.

What could Google monopoly ruling mean for you?

Google's online search monopoly ruled illegal by US judge, potential remedies include structural changes like breaking into smaller entities.

Citi's Makeover Has Yet To Reach The Compliance Department

Citigroup undergoes extensive restructuring under CEO Jane Fraser to address management and compliance challenges.

HHS reorg seeks to streamline tech, cyber policy

The Department of Health and Human Services is restructuring its operations to more effectively prioritize the use of digital and emerging capabilities, including artificial intelligence.
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