All articles tagged with #restructuring
Full Circle, the developer behind Skate, is restructuring and laying off staff less than six months after Skate's early-access launch, saying the changes are to better support the game's long-term future as a free-to-play live-service title with microtransactions.
Spirit Airlines announced it reached an agreement in principle with its DIP lenders and secured noteholders on key restructuring terms, paving the way to emerge from Chapter 11 in late spring or early summer as a leaner, low‑cost carrier with a substantially reduced debt load (about $2.1B post‑emergence from roughly $7.4B pre-filing), an optimized network, expanded premium offerings, and enhanced loyalty programs, while continuing to book and travel as normal.
Target will restructure parts of its organization and cut about 500 positions—roughly 400 in its supply chain and 100 at store districts—to streamline the field structure and reinvest in stores with more labor, hours, and guest-experience training. No store-level jobs will be cut, though some regional offices will close. The changes, announced as new CEO Michael Fiddelke begins leading the company, aim to boost efficiency and growth ahead of earnings due March 3.
A retailer operating Eddie Bauer filed for bankruptcy but will keep its stores open during restructuring while it works to reorganize debt and preserve operations.
Stellantis unveiled a strategic reset to align its portfolio with real-world customer demand for EVs, hybrids and ICE, taking about €22.2 billion in charges in H2 2025 (including roughly €6.5 billion cash) and suspending the 2026 dividend as it issues up to €5 billion of hybrid bonds; it also plans a roughly $13 billion U.S. investment, new models and a major reorganization to restore growth and improve net revenues, AOI margin and industrial free cash flow in 2026, supported by about €46 billion in industrial liquidity. Early results show H2 2025 volume rose 11% to 2.8 million units with higher orders and improved quality, while 2025 ends in a net loss before the planned improvements take hold.
Stellantis unveiled a major strategic reset, booking about €22.2 billion ($26.2B) in charges tied to canceled EV programs and a realignment of its EV plans and supply chain; the move spooked investors with shares dropping up to ~30%. The company posted a 2025 net loss and said no dividend will be paid in 2026, though CEO Antonio Filosa expects profitability in 2026. The charges reflect over-optimistic EV pacing and a demand-driven energy transition. The European regulatory backdrop remains tricky, as the EU shifted from a 100% combustion-engine ban by 2035 to a 90% ban, leaving room for hybrids or ICE vehicles, complicating the path for Stellantis and others in Europe.
Amazon plans to lay off about 16,000 corporate workers as part of a ongoing effort to reduce bureaucracy and free funds for artificial intelligence investments. This is the second major round of cuts since October, bringing total corporate/tech reductions to roughly 30,000 (about 10% of that workforce). CEO Andy Jassy says the changes are about efficiency, not establishing a new quarterly layoff cadence, as Amazon sharpens its focus on AI and related infrastructure, including recent shuttering of the Fresh and Go ventures.
Ubisoft announced broad restructuring and cost-cutting, including cancellations of several games, while raising Just Dance+ subscription prices starting April 2026: monthly +$1, 3-month +$3, and annual +$5. The service will gain additional songs, but the price hike comes as the company leans into live-service models and investments in AI, signaling a strategic shift amid financial tightening.
Ubisoft has begun a voluntary redundancy process to cut up to 200 jobs at its Paris-based Ubisoft International unit (about 18% of that unit) as part of a wider restructuring into five “creative houses” and a central operations arm. The RCC process is voluntary and negotiated with unions, limited to Paris-based Ubisoft International staff, with no compulsory redundancies indicated and a final decision pending agreement and regulatory validation. Unions have criticized the plan amid ongoing cost-cutting measures announced last week, including a return-to-office mandate and further studio reorganizations.
France’s Ubisoft faces intensified worker backlash after a restructuring plan, with the Solidaires Informatique union organizing a strike and planning further action. The union demands an end to cost-cutting, the preservation of remote work, and meaningful pay rises, arguing management has pushed staff under pressure with under-staffing and a push to full-time office work as Ubisoft seeks to boost AAA performance. The atmosphere, according to the union, is deteriorating, with reports of tears and concerns about potential job losses.
Ubisoft's sweeping 'reset' closes two studios, cancels six games (including the Sands of Time remake) and delays several others, sending its shares down 34% to the lowest level in 15 years. The publisher is reorganizing into five creative houses to focus on major franchises, revising its full-year net bookings guidance, and contends with a lawsuit from former Assassin's Creed chief Marc-Alexis Côté; rumors persist about an Assassin's Creed Black Flag remake.
Ubisoft announced a major reorganization into five genre-led divisions, canceled six games (including a Prince of Persia remake) and delayed seven others, and cut its 2026 outlook, while closing studios and signaling tighter costs, sending its shares to multi-year lows.
Ubisoft’s stock dropped about 33% after it announced a broad restructuring, closing studios and canceling six games, and warned of around €1 billion in operating losses for the year ending 2026 with a €650 million write-down. The plan includes €500 million in cost cuts, aiming for fixed costs of €1.25 billion by 2028, and net bookings of roughly €1.5 billion for 2026, with potential asset sales as part of the reset.
Coca-Cola plans to lay off 75 employees at its headquarters in 2026 as part of a broader restructuring initiative aimed at adapting to changing consumer preferences and investing in growth areas like AI, with further layoffs expected in phases.
Starbucks closed around 400 stores in the U.S. in 2025 as part of a $1 billion restructuring plan, citing underperforming locations and increased competition, with plans to open new stores in 2026.