In a statement Finnish telecoms giant Nokia said it plans on trimming up to 10,000 jobs within the next two years. The cost cutting move is aimed at boosting its research capabilities. In a statement Nokia said, it expects to incur around 600 million euros to 700 million euros in restructuring and associated charges by…
On Wednesday, Bloomberg reported that Nissan Motor Co plans on undertaking an annual $2.8 billion fixed costs restructuring as it braces for a drop in sales, which could complicate its recovery from years of poor profitability. Following 3 years of poor profits, Nissan is set to announce its restructuring plan on May 28. It is…
On Friday, LG Display Co Ltd, an Apple Inc supplier offered an optimistic outlook for the year on the back of higher demand for its organic light-emitting diode (OLED) panels sending its shares higher by 4%. The optmistic forecast comes in the wake of the South Korean company seeing prolonged decline in liquid crystal display…
WeWork is trimming its footprint in China and is expanding it in Singapore. On Thursday, Office-sharing startup WeWork stated, it plans on opening two new locations in Singapore later this year. The development comes even as WeWork seeks a $1 billion loan from its biggest-backer Softbank Group Corp in order to progress on its major…
HP’s expects to cut 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement and save around $1 billion by fiscal year 2022. U.S. personal computer maker HP Inc stated, it will cut up to 16% of its workforce as part of a restructuring measure aimed at pruning costs. In a…
Audi is taking a very systematic approach to the future of mobility. On Tuesday, Volkswagen’s Audi stated, it would sink in $15.9 billion (14 billion euros) through 2023 in autonomous driving, electric mobility and digitalization. For the next five years, Audi has projected its total expenditure to be around 40 billion euros, said the carmaker…
With Chinese authorities intensifying their crackdown on online gaming, Tencent’s cash machine, its revenues have been significantly affected. Faced with increased challenges stemming from heightened government regulations, Tencent Holdings announced stated, it has undergone its first restructuring in six years. In 2018, its market capitalization has fallen significantly and the company has faced some harsh…
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