revamp

Signify to cut jobs in revamp to save 200 million euros annually

Reuters0

By Diana Mandia (Reuters) – Signify is to cut jobs as part of a restructuring that is targeting annual savings of 200 million euros ($218 million), sending shares in the world’s biggest light maker up as much as 6.6%. Signify, spun off from Dutch technology group Philips in 2016, has already been cutting costs, including through layoffs, in response to a sluggish recovery in key market China and lower sales volumes. “We will further adjust the size of our central organisation and reduce our costs to support the company’s performance,” CEO Eric Rondolat said in a statement. A company spokesperson told

Read more

Hollywood strikes sap economy as industry readies for revamp

Reuters0

By Dawn Chmielewski, Danielle Broadway and Lisa Richwine LOS ANGELES (Reuters) – While Hollywood celebrates the end of strikes by writers and actors, the multibillion-dollar economic toll on everyone from crew members to caterers will take months to tally. Striking writers and actors slashed spending, burned through savings and piled up debt to survive. Dry cleaners and other service industries laid off staff, while prop houses sold inventory or shuttered. Preliminary estimates place the economic cost at more than $6 billion in lost wages and business impacts across California and other production-heavy states such as Georgia and New Mexico, as

Read more

Some offshore creditors of Country Garden consider forming group for debt revamp talks

Reuters0

By Xie Yu HONG KONG (Reuters) – Some offshore creditors of embattled Chinese developer Country Garden are in talks with a New York-based law firm and are considering options including legal ones, by forming a group if the company seeks to restructure its debt, a representative for the law firm said. While Country Garden is one of the few leading private developers in China that has not defaulted on its offshore debt obligation yet, its liquidity stress became public earlier this month after it missed two dollar coupon payments. Offshore creditors are closely watching to see if Country Garden would

Read more

Poland to revamp military command in face of hybrid threats

Reuters0

WARSAW (Reuters) – Poland’s plans to revamp its military command structure should help the NATO member handle the alliance’s new regional defence plans and a host of hybrid threats including those from neighbouring Belarus, a senior official has said. President Andrzej Duda announced plans to create a Joint Armed Forces Command on Aug. 14, the day before Poland displayed its growing military might with a huge parade to mark Armed Forces day. Bringing the leadership of the various branches of the armed forces together would make it easier to coordinate with other NATO troops on the alliance’s eastern border, the

Read more

California University Employees Threaten To Revamp Largest Strike In Higher Ed History

The Daily Caller0

California University Employees Threaten To Revamp Largest Strike In Higher Ed History Brandon Poulter on July 13, 2023 University of California (UC) system employees are considering another walkout after settling the largest-ever labor action in U.S. higher education, according to Times Higher Education. Nearly 50,000 graduate student workers in the UC system demanded higher pay and went on strike in November 2022 in a labor dispute that was reportedly resolved in December, according to The Associated Press. Union leaders are now accusing the UC system of failing to meet promises made in the agreement, which included pay raises, and are

Read more

Gavin Newsom Scrambling To Revamp His Opioid Plan As Another Deadly Drug Washes Over California’s Streets

The Daily Caller0

Gavin Newsom Scrambling To Revamp His Opioid Plan As Another Deadly Drug Washes Over California’s Streets Laurel Duggan on July 5, 2023 Democratic California Gov. Gavin Newsom is struggling to revamp his plan to combat opioid abuse as the veterinary tranquilizer xylazine, also known as “tranq,” ravages the state. California approved $30 million to fund its production of naloxone, the anti-overdose drug used in name-brand medications like Narcan, in order to help address the state’s fentanyl epidemic, according to the San Francisco Chronicle. But fentanyl is increasingly being laced with tranq, which can make overdose treatments like naloxone less effective.

Read more

Citigroup bets on ex-BofA exec Andy Sieg’s connections to revamp wealth unit

Reuters0

By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – Citigroup Inc’s hiring of Andy Sieg, the incoming head of its wealth management unit, underscores the lender’s ambitions in the business as well as the uphill climb it faces in gaining share in a competitive market. The 55-year-old executive, known for crisscrossing the country to visit clients and financial advisers, is tasked with revamping a unit where revenue fell 2% to $7.4 billion last year. That makes the business less than half the size of Bank of America Corp’s Merrill Wealth Management arm, the $18-billion behemoth Sieg ran until he

Read more

Disney’s streaming chief to exit under company revamp

Reuters0

LOS ANGELES (Reuters) – Michael Paull, the head of Walt Disney Co’s streaming entertainment unit, is leaving the company after six years under an ongoing restructuring by Chief Executive Bob Iger, a Disney statement said on Wednesday. Joe Earley, the current president of Hulu, will take over as president of streaming for Disney Entertainment, the company said. Earley will remain president of Hulu until a successor is named. Iger is restructuring Disney and promised to cut $5.5 billion in costs to make the company’s streaming business profitable. Paull was appointed to run the streaming unit in January 2022 under former

Read more

Bob Iger’s Disney revamp could keep critic Peltz ‘at bay’

Reuters0

(Reuters) – Walt Disney Co CEO Bob Iger dazzled Wall Street on Wednesday with sweeping changes and billions of dollars in cost cuts, and some analysts are convinced that will be enough to sway its harshest critic – activist investor Nelson Peltz. In his first earnings call since returning to the top job in November, Iger addressed several points that Peltz had raised in his proxy battle against Disney, which will come to a head on April 3 with a vote on if the activist should get a board seat. Under the restructuring, Disney is cutting 7,000 jobs and reorganizing

Read more

Stellantis plans to cut one in five French outlets in dealership revamp

Reuters0

By Gilles Guillaume PARIS (Reuters) – Stellantis will ultimately cut about one in five retail outlets in France, the automaker said on Wednesday, as it seeks to restructure its distribution network to reduce costs and prepare for the era of electric cars. The Franco-Italian group, whose brands include Peugeot, Citroen and Fiat, is racing to gain more flexibility in its sales network to adapt to new trends and customer demands as cars are becoming increasingly electrified and software-driven. “We will have fewer physical sites”, said Guillaume Couzy, Stellantis country manager for France, but added there would be “just as much

Read more

Exclusive-Twitter removes suicide prevention feature, says it’s under revamp

Reuters0

By Paresh Dave, Fanny Potkin and Sheila Dang (Reuters) -Twitter Inc removed a feature in the past few days that promoted suicide prevention hotlines and other safety resources to users looking up certain content, according to two people familiar with the matter who said it was ordered by new owner Elon Musk. After publication of this story, Twitter head of trust and safety Ella Irwin told Reuters in an email that “we have been fixing and revamping our prompts. They were just temporarily removed while we do that.” “We expect to have them back up next week,” she said. The

Read more

Swiss central bank sees onus on Credit Suisse to execute revamp

Reuters0

ZURICH (Reuters) – Credit Suisse needs to execute its revamp successfully and end a string of negative headlines from Switzerland’s second-biggest bank, Swiss National Bank Chairman Thomas Jordan said in an interview aired on Saturday. Credit Suisse in October announced a plan to raise capital, slash its workforce and focus even more on its flagship wealth management franchise while scaling back volatile investment banking after a string of losses and risk-management failures. It said this month the turnaround was well under way after completing a 4 billion Swiss franc ($4.3 billion) capital hike. “It is clear that such a reorganisation

Read more

India forms panel to revamp only govt job guarantee scheme – source

Reuters0

By Shivangi Acharya NEW DELHI (Reuters) – India’s federal rural development ministry has formed a panel to revamp its only job guarantee scheme in the hope of directing more work to the country’s poorer regions, a senior government official said on Friday. The Mahatma Gandhi National Rural Employment Guarantee Scheme, or MNREGA, was in high demand in the Asian nation’s rural areas as they emerged from the pandemic amid soaring inflation and limited non-farm job opportunities. Residents of relatively affluent states, however, may have fared better in securing work under the key anti-poverty job program, triggering calls for changes to

Read more

Disney’s Bob Iger returns to lead post-pandemic revamp

Reuters0

(Reuters) – Bob Iger is returning as Walt Disney Co’s chief executive officer in a bid to restore confidence in the entertainment giant and chart a faster path to profitability for its streaming business. He replaces Bob Chapek, who took charge in February 2020 just before the COVID-19 crisis hit and under whose reign the company’s stock has lost about a third of its value. Chapek was this year embroiled in a dispute with staff over his silence on Florida legislation that would limit classroom discussion of sexual orientation and gender identity. In 2021, he was involved in a tussle

Read more

Canadian tribunal seeks revamp of C$20 billion deal for First Nations children

Reuters0

By Anna Mehler Paperny TORONTO (Reuters) – The Canadian Human Rights Tribunal (CHRT), whose landmark decisions on discrimination against First Nations children set the stage for a historic C$20 billion compensation agreement, threw the deal into doubt after it said the agreement does not fully satisfy its orders. In January, the federal government and First Nations groups announced two C$20 billion agreements, one for compensation and the other for long-term reform of child and family services for First Nations people. Advocates for First Nations had argued before the human rights tribunal and in court for more than a decade that

Read more

Cityview Razzoo’s Cajun Cafe Excitedly Awaits a Revamp as It Undergoes Remodeling

Jessica Woods0

The location improvements are set to be unveiled in early October. Fort Worth, TX   (-)  Razzoo’s Cajun Cafe®, the spirited casual eatery, Cityview location is temporarily closed to guests. However, it is buzzing inside as it undergoes a facelift. The restaurant, located at 4700 Bryant Irvin Road in Fort Worth, TX, looks forward to delighting guests with the updates when the location reopens in early October 2021. “From the inside out, we are so excited to share the refreshed Cityview location with our fans,” says Jeff Powell, Razzoo’s Chief Executive Officer. “We’re not only making changes to our public-facing

Read more

Logan’s Roadhouse Debuts Menu Revamp Starring Cinnamon Rolls and Two All-New Desserts

Jessica Woods0

Warm Apple Cinnabun Sundae The Real American Roadhouse unveils menu additions with Cinnamon Rolls, the Cookie Dough Chocolate Cake, Warm Apple Cinnabun Sundae and more Houston, TX  (-)  Logan’s Roadhouse is updating the Roadhouse core menu with an array of decadent new desserts and more unreal flavors just in time for the holiday season! The Real American Roadhouse just announced a revamped menu with brand-new dessert options.  Logan’s is introducing the all-new Cookie Dough Chocolate Cake, a rich chocolate cake made with layers of chocolate chip cookie dough whipped cream, topped with cookie dough pieces and drizzled with chocolate sauce.

Read more

Mr Brews Taphouse Gears Up For Growth With Logo Revamp

Jessica Woods0

Award-winning, full-service craft brew pub and restaurant unveils new logo at franchise conference; will implement across all existing and future locations soon Birnamwood, WI  (PRESS RELEASE)  Out with the old and in with the brew… or new, in this case, as Mr Brews Taphouse modernizes its original logo ahead of its 10th anniversary in 2023. After mastering the quintessential all-American burger and offering one of the widest selections of craft beer anywhere, the 15-unit craft brew pub and restaurant is setting its sights on its next era of excellence by adopting a revitalized logo that better reflects the visual identity

Read more

Evergrande’s debt revamp to provide roadmap on tackling China property crisis

Reuters0

By Clare Jim HONG KONG – China Evergrande Group, the world’s most indebted developer, is expected to announce this week a debt restructuring plan that will not only determine its future but also indicate how Beijing plans to overcome a deepening property sector crisis. With more than $300 billion in debt, Evergrande has been at the centre of China’s property quagmire since last year as the company struggled to repay suppliers, creditors, and investors in wealth management products after Beijing launched measures to control developers’ high debt levels. The liquidity squeeze at Evergrande, whose entire $22.7 billion worth of offshore

Read more

ECB to revamp corporate debt holdings to favour greener firms

Reuters0

FRANKFURT – The European Central Bank plans to gradually revamp its 344 billion euro ($358 billion) corporate debt portfolio to favour greener firms, it said on Monday, taking another step in aligning monetary policy with climate change goals. The ECB has long said that the fight against climate change is crucial in maintaining financial stability and its bank supervision arm has been pushing the bloc’s biggest lenders to improve risk management and disclosure. In one of its biggest moves yet, the ECB said that starting from October, it will tilt reinvestments of cash maturing from corporate debt towards firms with

Read more

Ford may slash ad spending, revamp dealers to boost EV profit, CEO says

Reuters0

By Paul Lienert and Ben Klayman (Reuters) – Ford Motor Co needs to overhaul its century-old business model – from slashing advertising spending to reworking its dealer network – if it is to earn enough profit on electric vehicles to compete with Tesla and others, the automaker’s chief executive said on Wednesday. The shift from internal combustion vehicles to EVs is “the most exciting land grab in our industry since the Model T” introduced by Henry Ford in 1908, CEO Jim Farley said at an Alliance Bernstein conference. As the competition shifts from established players like Ford to newcomers from

Read more

Novartis to cut thousands of jobs in global revamp – paper

Reuters0

ZURICH – Swiss drugmaker Novartis will cut thousands of jobs worldwide as it combines its pharma and oncology businesses in a reorganisation announced last week, Swiss newspaper Tages-Anzeiger reported on Tuesday, citing unnamed company sources. More than 100 jobs could also disappear at Novartis’s Swiss sites in Rotkreuz and Basel, the paper reported. Contacted by Reuters, a Novartis spokesperson said efficiencies would come through leaner structures and would “inevitably lead to roles being impacted”, but it was too early to give specific numbers. Novartis, which employs about 108,000 people worldwide, said last week it was integrating its pharmaceuticals and oncology

Read more

Ferragamo to revamp product offer, won’t give guidance for 2022

Reuters0

By Claudia Cristoferi MILAN – The new boss of Salvatore Ferragamo aims to boost sales by revitalising its product offer, though the Italian luxury group said the war in Ukraine and the lingering pandemic in some areas meant it could not give an outlook for 2022. Marco Gobbetti, who became chief executive of Ferragamo in January after 4-1/2 years at British rival Burberry, said he planned to appoint a new creative director to inject “energy and newness” in the product range. “For sure growth is for me the overall priority,” Gobbetti said in his first conference call with analysts since

Read more

Pot producer HEXO to revamp board on activist investor push

Reuters0

– Canadian pot producer HEXO Corp said on Tuesday it would refresh its board, effective immediately, as part of a deal with activist shareholder Adam Arviv and his fund, Kaos Capital. Earlier this month, Arviv said he planned to nominate five independent directors to Hexo’s board at its shareholder meeting, citing concerns over its sliding share price. Shares in Hexo were about 6.49% lower in morning trading, taking their year-to-date losses to nearly 18%. The new board comprising seven directors will stand for election at Hexo’s shareholder meeting on March 8. Arviv’s fund, which currently owns about a 2% stake

Read more