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Tag: restructuring
CIBC to take restructuring charge of up to $200-million in fourth quarter
2015-10-07 16:21:51| Grocery - Topix.net
Canadian Imperial Bank of Commerce says it is targeting cost savings of $600-million by 2019 and will take a restructuring charge of up to $200-million in the fourth quarter. Chief financial officer, Kevin Glass, said Wednesday in Toronto at the bank's first investor day meeting in five years, that the bank is also targeting growth of 5 per cent to 10 per cent a year.
Tags: charge
fourth
quarter
restructuring
Air France to announce job cuts under new restructuring plan
2015-10-05 09:50:12| Airlines - Topix.net
Air France-KLM is set to unveil details on Monday of a revamped restructuring plan which unions expect will lead to some 3,000 job losses. Four unions have called a strike to coincide with the expected launch of the plan due to be presented to the central company enterprise committee at 9:30 am .
VW Group restructuring in response to emissions testing scandal; greater focus on the modular toolkits; Klinger out, Horn stays
2015-09-25 19:55:27| Green Car Congress
Tags: group
response
focus
greater
Marvell announces major restructuring of mobile business
2015-09-25 09:35:00| Telecompaper Headlines
(Telecompaper) Marvell Technology announced plans for a significant restructuring of its mobile platform business in order to focus on more profitable products and opportunities. Going forward, the company will focus on wireless connectivity products, including Wi-Fi and other wireless standards needed to support its strategies in existing markets as well as expanding into emerging opportunities in the IoT and automotive segments. The restructuring plan will see the company cut 17 percent of the workforce associated with mobile and reduce annual operating costs by a total USD 170-220 million. The mobile platform business is currently expected to reach a gross profit of USD 13 million on revenues of USD 122 million in the first half of fiscal 2016. The restructuring will begin immediately and the company expects the major activities will take place through the end of fiscal 2016. The cost of the restructuring is estimated at USD 100-130 million, including USD 45-55 million in costs for the lay-offs in the second half of the fiscal year. Other major components include facilities and asset impairment charges of USD 30-40 million and an inventory writedown of USD 25-35 million. The company said it will discuss the restructuring of the mobile platform business in more detail during its next quarterly earnings conference call, the date of which is yet to be determined.
Tags: business
major
mobile
announces
HP Planning 30,000 Job Cuts In Restructuring Move
2015-09-19 07:37:29| IT Services - Topix.net
HP is looking to cut even more of its workforce in conjunction with a Nov. 1 corporate split intended to make the company more agile and efficient. Hewlett Packard plans to slash 25,000 to 30,000 more jobs as part of cost-cutting measures in conjunction with its plan to split into two companies.
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