All articles tagged with #restructuring
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.
iRobot, the maker of Roomba robotic vacuums, has filed for Chapter 11 bankruptcy but plans to remain operational during a restructuring process, which includes being acquired by Picea to strengthen its financial position and ensure continuity for customers and partners.
Spirit Airlines has amended its DIP credit agreement, securing an additional $100 million to support its restructuring efforts, with ongoing negotiations for further strategic options, while continuing operations and improving its fleet and cost structure.
iRobot is entering a court-supervised chapter 11 process, with its secured lender and key supplier Picea set to acquire the company, aiming to strengthen its financial position and continue its innovation in robotics and smart home devices.
Square Enix announced mass layoffs affecting over 100 UK staff and potentially US workers as part of a restructuring to cut costs and consolidate around their Japanese base, aiming to save approximately $19.6 million annually, with the layoffs not directly related to their AI automation plans.
Square Enix is undergoing a major restructuring by closing overseas development studios and consolidating development in Japan, putting over 100 jobs at risk in the UK and US, as part of a strategy to strengthen global publishing and focus on its domestic game development.
Starbucks reported a 5% increase in Q4 revenues to $9.6 billion, with global comparable store sales up 1%, marking the first growth in seven quarters, amid ongoing restructuring and strategic initiatives, though profits declined significantly compared to the previous year.
OpenAI has completed its restructuring from a nonprofit to a for-profit entity, paving the way for increased investment in AI infrastructure and a potential IPO, despite ongoing legal and governance challenges involving key stakeholders like Elon Musk and Microsoft.
Paramount is initiating layoffs of around 1,000 employees as part of a restructuring effort led by CEO David Ellison to realign the company's focus on growth opportunities and long-term success, amid new strategic investments and organizational changes.
Microsoft will acquire a 27% stake in OpenAI worth about $135 billion and gain access to its AI models until 2032, as part of a restructuring that clarifies their partnership and positions OpenAI for a for-profit future, with a focus on AI development and potential AGI achievement.
OpenAI's restructuring has positively impacted Microsoft's valuation, pushing it above $4 trillion, highlighting significant developments in the tech industry.
Amazon plans to cut up to 30,000 corporate jobs, roughly 10% of its corporate workforce, in its largest-ever layoff round, as part of restructuring efforts following over-hiring during the COVID pandemic.
Chegg will remain a standalone public company, with CEO Dan Rosensweig returning to lead as it restructures to improve cash flow and focus on the $40+ billion skilling market, including layoffs and strategic shifts towards AI-powered learning and professional upskilling.
General Motors laid off 200 employees at its Warren Technical Center in Michigan as part of a restructuring of its design engineering team, citing business conditions as the reason for the layoffs, despite the company's strong third-quarter earnings and profit forecast boost.