All articles tagged with #company restructuring
Warner Bros. Games has laid off employees at its San Francisco studio amid a year of upheaval, including studio closures and leadership changes, as the company refocuses on core franchises and faces a potential acquisition by Netflix.
Paramount has begun significant layoffs, cutting about 2,000 jobs (10% of its workforce) as part of a restructuring effort following its merger with Skydance, aimed at building a stronger, future-focused company and achieving $2 billion in cost savings. CEO David Ellison emphasized the need for these changes to position Paramount for long-term success amid ongoing industry consolidation and strategic shifts.
Amazon has announced the elimination of 14,000 corporate jobs, primarily impacting early to mid-level managers in its retail division, with concerns among AWS employees about potential future layoffs as the company seeks to streamline operations and increase efficiency amid a changing business landscape.
Chegg is facing significant challenges due to AI competition, especially from ChatGPT, leading to a 45% workforce reduction, a plummeting stock price, and the return of its former CEO as it struggles to adapt to the new digital landscape.
General Motors laid off hundreds of employees, mainly from its Warren, Michigan tech center, as part of a restructuring of its design engineering team to enhance core capabilities, shortly after posting strong quarterly earnings and raising profit outlooks amid industry pressures.
Rivian Automotive is laying off over 600 employees, about 4.5% of its workforce, as part of restructuring efforts to streamline operations and prepare for the launch of its new R2 model amid a challenging US EV market influenced by policy changes and economic factors.
Target is cutting 1,800 corporate jobs, about 8% of its headquarters staff, as part of a strategy to simplify operations and boost growth amid sales slumps and leadership changes, with affected employees receiving pay and benefits until January 3.
Novo Nordisk's entire independent board is resigning following disagreements with its controlling foundation, leading to a major leadership overhaul amid ongoing struggles with market share and recent layoffs, as the company shifts its strategic focus under new CEO Mike Doustdar.
Seven Starbucks locations in the Las Vegas Valley are set to close as part of the company's broader restructuring under the Back to Starbucks plan, which aims to revitalize the brand by returning to its original coffeehouse model, resulting in a 1% reduction of its store fleet and the elimination of 900 non-retail roles.
Starbucks is closing at least 11 locations along Colorado’s Front Range as part of a broader plan to shutter hundreds of stores worldwide, citing issues with store viability and customer environment. The company aims to open more stores and redesign over 1,000 locations in fiscal year 2026, while offering transfers and severance packages to affected partners.
Novo Nordisk has instructed all staff to return to the office full-time to boost decision-making and collaboration, amid challenges like stalled sales growth, competition, and a significant market cap decline. The company is moving away from its previous flexible work policies, although some individual flexibility remains. This shift aligns with broader corporate trends of returning to in-person work.
Novo Nordisk plans to cut 11% of its global workforce, approximately 9,000 jobs, and reduce its profit forecast due to increased competition and market challenges in obesity drugs, aiming to save 8 billion kroner by 2026 as part of a broader organizational restructuring to focus on growth areas.
xAI's CFO Mike Liberatore has left the company, joining a series of high-profile departures including legal and executive staff, amid ongoing company restructuring and funding activities, with Liberatore having played a key role in raising significant capital and expanding data centers.
Eric Vaughan, CEO of IgniteTech, replaced nearly 80% of his staff to accelerate AI adoption, believing it was essential for survival. Despite significant resistance and challenges, the company successfully integrated AI into its culture and operations, resulting in strong financial performance and innovative products. Vaughan would do it again, emphasizing that AI-driven change is a necessary cultural and business transformation.
Procter & Gamble announced that Shailesh Jejurikar will become CEO in 2026, succeeding Jon Moeller who will become executive chairman. Jejurikar, the first Asian to lead P&G, has been with the company since 1989 and is currently COO. This leadership change follows recent restructuring and job cuts amid slowing sales, with Jejurikar also standing for election to the company's board.