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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: restructuring

restructuring stories: 24 news summaries

1 - 20 of 24 Stories | 1 2 Next >>

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Johnson & Johnson to
Slash 8,700 Jobs

Company says moves will save up to $900M annually

Nov 3, 09 8:56 AM CST
(AP) - Johnson & Johnson will cut 7% of its workforce—some 8,400 jobs—and make other other restructuring moves in order to save up to $900 million next year. The New Brunswick, NJ, company says it will also simplify its business structure in order to achieve savings that will add... More »

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cost cutting • Johnson and Johnson • restructuring • job cuts

 Rattner: Why I 
 Fired GM's Wagoner 

Former car czar calls deficiencies 'appalling'

Oct 21, 09 3:33 PM CDT
(Newser) - Barack Obama's former car czar says he had no choice but to fire GM's Rick Wagoner. "Everyone knew Detroit's reputation for insular, slow-moving cultures," Steven Rattner writes in an essay for Fortune. "Even by that low standard, I was shocked by the stunningly poor management that we... More »

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bankruptcy • General Motors • restructuring • Rick Wagoner • Obama administration • Steven Rattner

EARNINGS REPORT

 Ford Shocks Street 
 With $2.3B Profit 


Jul 23, 09 6:39 AM CDT
(Newser) - Ford surprised the markets today by posting a $2.3 billion quarterly profit, thanks mostly to debt restructuring actions, Reuters reports. The result beat estimates and represents Ford's first good quarter in more than a year; this time in 2008, the automaker lost $2.7 billion. But the global downturn... More »

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debt • Ford • corporate earnings • restructuring • auto industry • quarterly reports • quarterly profits • cars

 Judge Greenlights 
 GM Asset Sale 

Firm will transform into leaner car maker owned by US, Canada, UAW

Jul 6, 09 1:44 AM CDT
(Newser) - GM has won approval for a restructuring plan in which the car maker will sell its most valuable assets to a new firm—also called GM—owned by the US and Canadian governments and a UAW health care trust, the New York Times reports. Judge Robert Gerber agreed with GM... More »

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bankruptcy • General Motors • automaker • restructuring • auto industry • car dealers • automobile

GM Borrows Another $4B From Feds

Company to cut 3,400 more white-collar jobs amid restructuring

May 23, 09 6:09 AM CDT
(Newser) - General Motors has borrowed another $4 billion from the Treasury ahead of its June 1 deadline to restructure or face bankruptcy, the Wall Street Journal reports. A statement from the automakers said the loan, which brings the total borrowed to nearly $20 billion, is "to maintain adequate liquidity" during... More »

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General Motors • Treasury Department • restructuring • auto industry • auto bailout

 GM to Cut 21K US Factory Jobs 

Firm restructuring in bid for more government aid

Apr 27, 09 8:53 AM CDT
(AP) - General Motors will cut 21,000 US factory jobs by next year, phase out its Pontiac brand, and ask the government to take company stock in exchange for half of GM's government debt as part of a major restructuring effort needed to get more government aid, the firm said today.... More »

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United Auto Workers • General Motors • bond trading • debt • recession • stock • restructuring • job cuts • government loans

 GM Aims for Fastest  
 Possible Bankruptcy  

Treasury directed GM to prep for Chapter 11 as options dwindle

Apr 13, 09 7:40 AM CDT
(Newser) - General Motors is in high gear, the New York Times reports, prepping for a possible bankruptcy that would allow the company to reorganize and emerge from protection in as little as 2 weeks. Since the Treasury Department instructed the automaker to prepare for a bankruptcy filing by June 1, in... More »

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Delphi • United Auto Workers • bankruptcy • General Motors • restructuring • Chapter 11

OPINION

GM Will Drive Obama Off Cliff: Brooks

Company can't be saved; political costs of bankruptcy are huge

Mar 31, 09 8:36 AM CDT
(Newser) - For decades, General Motors hasn’t been so much in the automaking business, David Brooks writes in the New York Times, as “in the restructuring business.” And for just as long, presidents have sought to push bankruptcy into the future. By getting serious, though, “the Obama administration... More »

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General Motors • restructuring • auto industry • David Brooks • President Obama

GM to Miss Restructuring Deadline, Win Extension

Seeks one month extension to allow negotiations with UAW, bondholders

Mar 27, 09 7:35 AM CDT
(Newser) - General Motors, about to miss its March 31 deadline for completing the cost-cutting restructuring plan it submitted to the government, is expected to get a 30-day extension, reports the Wall Street Journal. Though the UAW has agreed to shed 7,600 jobs at GM next week, and another 10,000... More »

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United Auto Workers • General Motors • retirees • restructuring • health plan

(Newser) - Things aren’t going well for Michael Steele in the media, but behind the scenes he’s undertaken a sweeping restructuring of the Republican National Committee, Marc Ambinder writes in the Atlantic. “He’s become clownish. And that judgment could endure until the end of his tenure,” Ambinder... More »

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RNC • GOP • Republican Party • restructuring • gaffe • chairman • Michael Steele

 Disney to Slash 
 Theme Park Jobs 

Company announces layoffs, major restructuring of park operations

Feb 19, 09 5:04 AM CST
(Newser) - Tomorrowland holds unemployment for an undisclosed number of Disney employees, reports the Orlando Sentinel. The company is restructuring its theme park division—which employs 80,000 people—and plans to cut jobs by consolidating its East and West Coast operations. Analysts believe Disney can make substantial savings this way but... More »

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layoffs • Disney • theme park • restructuring • Disneyland • Walt Disney World

With Car Czar Delayed,
Automakers Spin Wheels

GM and Chrysler find no one behind the wheel of auto restructuring

Feb 6, 09 9:14 AM CST
(Newser) - Amid the federal appointment frenzy, the lack of a "car czar" has received little attention, but the vacancy is holding up automakers trying to meet restructuring deadlines included in their $17.4 billion federal loan, the Wall Street Journal reports. The loans require General Motors and Chrysler to submit... More »

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Chrysler • General Motors • restructuring • financial crisis • auto bailout • car czar • Steven Rattner

Wall Street's Hottest Jobs? Lehman Bros

Bankruptcy experience is the skill set of the future, execs say

Feb 2, 09 7:00 AM CST
(Newser) - Wall Street's hottest jobs in 2009 are coming from its biggest disaster of 2008—Lehman Brothers, the Wall Street Journal reports. Lehman still has billions of dollars in assets and contracts to untangle and restructure, and Wall Street's legions of laid-off execs are keen to get a piece of the... More »

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Wall Street • bankruptcy • employment • Lehman Brothers • restructuring • financial sector • Richard Fuld

Borders Cans Top Brass After Dismal Holiday Season

Bookseller reports 12% drop over '07, replaces CEO, others

Jan 5, 09 4:00 PM CST
(Newser) - Borders will immediately restructure top management to counter a steep slide in sales, the Ann Arbor News reports. CEO George Jones has been replaced with Ron Marshall, a turnaround expert with book experience. Other top spots were shuffled to veterans of the Michigan-based company. The bookseller announced today that... More »

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restructuring • Borders • retail sales • book • holiday sales • shakeup

OPINION

 Detroit's Not the Only Place  
 That Needs 'Restructuring' 

DC should streamline many useless layers

Dec 19, 08 12:46 PM CST
(Newser) - Lawmakers want to restructure Detroit’s auto industry—but Congress could use a little makeover, too, writes Philip K. Howard in the Wall Street Journal. He offers a prescription to streamline the government as one would a corporation:
  • Dump “legacy obligations.” Like Detroit, Congress must ditch
... More »

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Congress • legislation • government • automaker • restructuring • Washington, DC

 As NBC Falters, 
 Real Drama Is 
 Behind the Scenes 

Network moves to consolidate amid executive shakeup, poor ratings

Dec 8, 08 11:27 AM CST
(Newser) - When NBC announced a sweeping shakeup last week, it confirmed just how bad things are at the network, the Los Angeles Times reports. Ratings are down 14% this season, just as companies are dramatically slashing advertising budgets in the face of recession. “This is not a good time to... More »

MORE ABOUT:
NBC • advertising • General Electric • Ben Silverman • restructuring • advertising budgets • executives • NBC Universal studio • financial crisis

 Ford Unveils Plan, Seeks $9B 

Promises to be profitable by 2011

Dec 2, 08 11:08 AM CST
(Newser) - Ford unveiled a new plan to restructure its operations today and predicted a return to profitability—or at least break-even—by 2011, the Wall Street Journal reports. The plan calls for aggressive cost cutting and an increased focus on fuel efficiency. One of the costs on the chopping block?... More »

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Ford • Alan Mulally • restructuring • auto industry • Big Three • bailout • Bill Ford Jr.

 Bailout Wait 'Nerve-Wracking' 

Hearings 'more hostile than expected,' says Wagoner

Nov 21, 08 1:50 AM CST
(Newser) - Two grueling days of congressional hearings on a bailout for the auto industry were "hostile" and the wait for an answer is "nerve-wracking," General Motors CEO Rick Wagoner told the Detroit News yesterday. GM is ready now to show Congress detailed restructuring plans to convince lawmakers to... More »

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Congress • bankruptcy • General Motors • Detroit • restructuring • auto industry • Rick Wagoner • bailout • economy • auto bailout

ANALYSIS

Service Cuts Make AOL
Even More Useless

Blogging, page-hosting features latest to go as parent Time Warner looks for answers

Oct 1, 08 5:00 PM CDT
(Newser) - AOL is cutting two more of its website’s offerings, a blog creator and a data hosting service, Peter Kafka notes on Silicon Alley Insider. Users of AOL Journals, which hosts blogs, will be migrated to an equivalent host. Users of AOL Hometown, which mainly store photos—and, Kafka sniffs,... More »

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Internet • AOL • blogging • restructuring • data storage • web services

 Yahoo Regroups, Again 

Struggling company attempts to recover after Microsoft bid

Jun 27, 08 8:52 AM CDT
(Newser) - Reeling after Microsoft’s failed takeover bid and bracing for a fight with financier Carl Icahn over board control, struggling Yahoo is once again restructuring itself, the New York Times reports. “Any organization change is disruptive,” said Yahoo’s president, but “the flip side of disruption is... More »

MORE ABOUT:
Yahoo • Internet • Microsoft • Susan Decker • restructuring

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