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Financial Liabilities

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business2 years ago•3 min saved

Rudy Giuliani's Bankruptcy Filing Amidst $148 Million Defamation Suit

Former New York City mayor and Donald Trump attorney Rudy Giuliani has filed for Chapter 11 bankruptcy after being ordered to pay $148 million in damages to two Georgia election workers who sued him for defamation. Giuliani estimates his liabilities to be between $100 million and $500 million. The bankruptcy filing reveals that he owes the IRS and the state of New York hundreds of thousands of dollars in income tax, as well as unspecified debts to Dominion Voting Systems, Smartmatic USA, and Hunter Biden. Giuliani's net worth has significantly declined, and he has resorted to selling merchandise and offering video messages for cash.

via CBS News|

#bankruptcy #business #defamation-suit

business2 years ago•2 min saved

Walgreens to slash corporate workforce by 10%.

Walgreens Boots Alliance is laying off about 10% of its corporate employees, which represents 504 workers. The majority of the cuts will be at the company's Deerfield headquarters or its Chicago office. The layoffs are part of a series of steps the company is taking to drive sustainable cost savings to help fuel investments for future growth. Walgreens has denied that the layoffs are connected to the company's financial liabilities, including a $5.4 billion after-tax charge to cover opioid claims and litigation.

via Chicago Sun-Times|

#business #corporate-workforce #cost-saving-measures