Big Blue Issuing Thousands of Pink Slips Amid Restructuring
Computer giant IBM reportedly has begun the process of laying off employees in the U.S. as part of a worldwide restructuring plan estimated to cost about $1 billion.
restructuring
Hasbro's First-Quarter Loss Widens on Restructuring Charge
Hasbro says its first-quarter loss widened as the toy maker absorbed heavy restructuring charges and foreign exchange rates flattened its international revenue.
American Airlines' Flight Out of Bankruptcy Gets Bumpier
American Airlines executives hoping to bring the deficit-riddled carrier out of bankruptcy want to trim about 13,000 jobs. They left their unions' counteroffer sitting on the tarmac. Will the two sides ever be able to meet in the middle?
GM Posts Record Earnings: Is It Ready to Repay Bailout?
2011 was the most profitable year in General Motors' history. Thanks in large part to the $50 billion government-assisted restructuring it received, GM's U.S. operation is in good shape. So is it ready to fully pay back Washington now? Well, that depends on Europe.
Revlon to Give Itself a European Makeover
After successfully revising its business processes and restructuring its operations in Europe, premium cosmetics maker Revlon now plans to implement similar changes in its operations globally. Trefis examines how those changes worked in Europe, and what they mean for the company's future profits.
Resurgent Ford Awards Top Two Execs $99 Million in Stock
Ford CEO Alan Mulally and Executive Chairman Bill Ford, have been awarded $56.5 million and $42.4 million in stock, respectively, in recognition for the company's stunning turnaround, which resulted in the automaker raking in $6.6 billion last year -- its best performance in more than a decade.
Insurance Broker Aon to Cut Up to 1,800 Jobs
Aon Corp., the world's biggest insurance broker, revealed in a regulatory filing Thursday a restructuring plan which includes cutting 1,500 to 1,800 positions globally, as it combines the operations of the recently acquired Hewitt Associates with its own.
Ford Has Made Its Last Mercury Mountaineer SUV
It's official. Ford has begun winding down its long-lived Mercury brand, ending production of the Mountaineer sports-utility vehicle Friday. In June, Ford announced its intention to shutter the 71-year-old nameplate as part of a plan to devote more resources to its Lincoln and Ford brands.
Playboy to Cut More Jobs in Bid to Restructure
Playboy Enterprises is downsizing again as it continues its transition from a lifestyle and media business into a brand-management company. The company expects to save more than $3 million annually.
Aegon Looks to Sell Transamerica Re
Dutch insurer Aegon announced it will restructure operations in Britain and look into strategic options for Transamerica -- its U.S.-based life reinsurance arm.
Stocks in the News: UBS, Teva, Merck, Royal Bank of Scotland, AIG
Company news that could affect stock prices today including: a Swiss court's decision that chief financial markets regulator broke the law when it ordered UBS AG to give the U.S. data about its clients, and Teva Pharmaceutical Industries' withdrawal of its appeal of a U.S. court ruling that favored Merck and its patent on the asthma treatment Singulair.
Citadel Declares Chapter 11
Faced with the likelihood of breaching its financial covenants, Citadel Broadcasting -- which syndicates several popular broadcasters, such as Don Imus -- took the initiative Sunday and filed for bankruptcy protection. That will let the radio broadcaster get out from under most of its $2.5 billion debt.
