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Corporaterestructuring

All articles tagged with #corporaterestructuring

business1 year ago

Warner Bros. Discovery Restructures, Boosting Stock and Strategic Opportunities

Warner Bros. Discovery, led by CEO David Zaslav, is reorganizing its corporate structure to separate its global linear TV division from its streaming and studios division. This move aims to enhance strategic flexibility and unlock shareholder value, with the reorganization expected to be completed by mid-2025. The decision follows similar strategies by other media companies like Comcast and Disney, as the traditional TV business faces challenges from declining subscriber numbers and the rise of streaming services.

via Hollywood Reporter|
#business#corporaterestructuring#shareholdervalue
business1 year ago

Warner Bros. Discovery Restructures, Splits TV and Streaming Divisions

Warner Bros. Discovery has announced a new corporate structure, consolidating its operations into two divisions: Global Linear Networks and Streaming & Studios. This restructuring aims to enhance strategic flexibility and unlock shareholder value, amid speculation of potential mergers and acquisitions. The move is seen as a response to the declining performance of linear networks, with plans to implement the new structure by mid-2025. CEO David Zaslav emphasized the focus on cash flow from linear networks and growth in streaming and studios.

via Deadline|
#business#corporaterestructuring#linearnetworks
business2 years ago

"TGI Fridays Shuts Down Dozens of Underperforming Locations Nationwide"

TGI Fridays has announced the closure of 36 of its restaurants nationwide, with the sale of eight locations to its former CEO, Ray Blanchette, for revitalization. The company is restructuring, including changes in executive leadership, and is offering transfer opportunities to the majority of affected employees. Despite the closures, TGI Fridays remains optimistic about its long-term growth strategy and brand revitalization, with 237 locations still operating in the U.S.

via NPR|
##brandrevitalization#business
business-and-finance2 years ago

"Xerox Announces 15% Workforce Reduction as Part of Strategic Reinvention"

Xerox is set to reduce its workforce by 15%, impacting over 3,000 employees, as part of a major organizational restructuring and implementation of a new operating model. The company aims to adapt to the hybrid workplace, improve productivity, and focus more on digital and IT services. This decision follows the recent redesign and realignment of its executive team and the death of CEO John Visentin. Xerox's stock experienced a decline during midday trading following the announcement, despite the overall positive market reaction to the restructuring plan. Transition support will be provided for the affected employees, with the cuts subject to consultation with employee representative bodies where necessary.

via Fox Business|
##business-and-finance#corporaterestructuring
business2 years ago

"TGI Fridays Shuts Down Multiple Massachusetts Locations Without Warning"

TGI Fridays has closed six underperforming restaurants in Massachusetts as part of a broader move to shut down 36 corporate locations across the U.S. The closures were announced after the restaurants were sold to former CEO Ray Blanchette, who plans to revitalize the remaining locations. Impacted employees are being offered transfer opportunities, with over 80% able to relocate to other operational restaurants within the company.

via Boston 25 News|
##business#corporaterestructuring
business2 years ago

"TGI Fridays Shuts Down Six Underperforming Massachusetts Locations"

TGI Fridays is closing six of its underperforming restaurant locations in Massachusetts, specifically in Dedham, Danvers, Marlboro, Mansfield, North Attleboro, and Seekonk, as part of a larger plan to shut down 36 locations nationwide. The company is offering transfer opportunities to 80% of the affected employees. This move comes alongside the sale of eight corporate-owned restaurants in the northeast to its former CEO, as TGI Fridays aims to strengthen its franchise model and focus on future growth. The closures reflect a broader trend of casual dining establishments struggling in the New England region.

via CBS Boston|
##business#casualdining
business-and-finance2 years ago

"Xerox Announces 15% Workforce Reduction in Major Restructuring Effort"

Xerox has announced a 15% reduction in its workforce, which will impact approximately 3,075 employees, as part of a new organizational structure and operating model aimed at increasing efficiency and focusing on digital services. The restructuring also includes a redesigned executive team. Following the announcement, Xerox's stock price dropped by over 9%. The layoffs are set to take place within the current quarter.

via CNBC|
##business-and-finance#corporaterestructuring
business2 years ago

"TGI Fridays Shuts Down Multiple Massachusetts Locations Without Warning"

TGI Fridays has closed six underperforming restaurants in Massachusetts as part of a broader move to shut down 36 corporate locations across the United States. The closures were confirmed by a company spokesperson, and signs were posted at the affected locations. The closed restaurants were sold to former CEO Ray Blanchette, who plans to revitalize them. TGI Fridays is offering transfer opportunities to over 80% of the impacted employees, ensuring continued employment for more than 1,000 workers. Other locations in Massachusetts remain operational.

via Boston 25 News|
##business#corporaterestructuring