All articles tagged with #strategic shift
Wendy's plans to close 240 to 360 underperforming restaurants in the US to focus on profitable locations and boost sales, especially in chicken products, amid overall sales decline and industry challenges.
Israel is facing a delicate situation after failing to anticipate Iran's strategic shift, leading to a missile and drone attack. While the attack was unsuccessful, Israeli officials are now under pressure to respond, with the timing and nature of the response dependent on Gaza and the American position. However, a regional war could jeopardize the upcoming power transition in Iran, adding complexity to Israel's decision-making.
Warner Bros. Discovery's TruTV is undergoing a major overhaul, shifting its primetime lineup to focus on sports programming, including live games, alternative telecasts, and sports studio shows, while its hit series Impractical Jokers will move to TBS. This move reflects a larger trend in cable TV as smaller channels face challenges amid cord-cutting, and follows the network's previous focus on comedy and reality shows.
Vice Media, once valued at $5.7 billion, is shutting down its Vice.com website and laying off several hundred employees as part of a strategic shift following its bankruptcy filing last year. The company, now valued at $350 million, is also looking to sell its Refinery 29 publishing business. This move reflects the ongoing financial challenges facing the media industry, with digital sites like BuzzFeed News and legacy media outlets like the Los Angeles Times also experiencing job cuts. CEO Bruce Dixon cited the need to reposition the company for long-term success and announced a shift towards a studio model and a greater emphasis on social channels for content distribution.
Vice Media is ceasing its website operations and focusing on its studio, resulting in the layoff of hundreds of employees. The company is also in the process of selling Refinery.com. The decision comes as Vice continues to grapple with financial struggles and seeks to realign its resources. CEO Bruce Dixon outlined the changes in a memo, expressing the need to adapt to the evolving business landscape and transition to a studio model, while also acknowledging the significant impact on affected employees.
Fisker will unveil its new Dealer Partnership strategy and plans for expanding its retail and service network at the 2024 NADA show in Las Vegas. The company aims to shift from a direct sales model to dealers, with over 100 dealers in North America and Europe expressing interest in the new partnership model. This strategic shift is expected to improve Fisker's delivery, service, and test drive network, allowing potential customers to experience Fisker EVs firsthand at permanent community locations. CEO Henrik Fisker and other top executives will participate in the NADA show to share these plans and discuss the company's future direction.
ByteDance, the parent company of TikTok, is cutting around 1,000 jobs in its gaming unit as part of a strategic shift. The company will discontinue games that have not yet launched, except for a few innovative projects, while continuing to operate existing titles as it seeks to divest them.
Goldman Sachs has sold its financial planning unit as part of a strategic shift away from consumer-focused businesses. The move comes as the company aims to focus more on its core investment banking and trading operations.
Open Society Foundations, the charity founded by billionaire George Soros, plans to withdraw or terminate large parts of its work within the European Union as it shifts focus to other parts of the world, according to an internal email. The decision is part of a strategic shift that aims to allocate resources to make a significant impact in other regions. The foundation will continue to support civil society groups across Europe, including those working on EU external affairs, while maintaining support for European Roma communities. The organization will also continue to fund programs in Europe through national foundations.