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New regulatory filings suggest many more layoffs could be coming at AOL LLC as the Internet company separates from Time Warner Inc. by the end of the year.
Johnson & Johnson said Tuesday it will cut up to about 8,000 jobs and streamline its operations in an effort to cut costs as it braces for changes in the health care industry.
In another sign that CIT Group Inc. is struggling to restructure its debt, billionaire investor Carl Icahn offered the lender a $6 billion lifeline.
CIT Group Inc., one of the nation's biggest lenders to small and midsize businesses, says it has amended its debt restructuring offer in hopes of enlisting more support from bondholders for the plan.
Struggling CIT Group Inc. has launched a debt restructuring effort it hopes will trim at least $5.7 billion from its balance sheet, but also is asking bondholders to approve a prepackaged reorganization plan in case it is forced to file for Chapter 11 bankruptcy protection.
American Airlines' parent company said Thursday it is taking on significant new debt at a time when revenues are being hammered, but the $2.9 billion in cash and fresh financing it raised should quiet concerns — for now — that it is in danger of a cash crunch and a bankruptcy filing.
Commercial lender CIT Group Inc., which is trying to avoid filing for bankruptcy protection, said Friday that it has received the remaining $1 billion available under a $3 billion credit agreement and is suspending preferred dividend payments.
Vehicle remanufacturing and logistics company ATC Technology Corp. late Tuesday said it will cut jobs and consolidate certain warehousing activities in an attempt to reduce costs stemming from the upcoming loss of its Honda transmission remanufacturing program.
Struggling online video startup Joost, begun with much fanfare in 2007 by the same people behind Skype and Kazaa, is restructuring its business after discovering that it can't survive on advertising to fund its operations.
French drugmaker Sanofi-Aventis SA announces a major corporate restructuring on the heels of new safety concerns that could hurt sales of a key drug, its once-a-day insulin Lantus.
Revlon Inc. said Thursday it will cut 400 jobs worldwide to help cut annual costs by $30 million as the cosmetics company continues to grapple with a softening economy.
After creating a plan to radically alter American International Group Inc.'s operations to help repay billions in government loans, chairman and chief executive Edward Liddy is leaving his vision for the insurer in the hands of a whole new set of managers.
Six Flags has announced a debt restructuring plan, including a stock-for-debt exchange offer, intended to help the theme park operator avoid filing for Chapter 11 bankruptcy protection.
Struggling gaming company Empire Resorts says its two top leaders are stepping down, it is relocating its headquarters and taking other cost-cutting measures.
Johnson Controls Inc. said Friday it will cut jobs and close 10 manufacturing plants as part of a restructuring effort that it said will cost between $200 million and $215 million.
A key holder of Six Flags Inc.'s debt is holding up negotiations to restructure the debt, the company's president and chief executive told investors Monday.
Singapore-based contract electronics manufacturer Flextronics International Ltd. said Tuesday it will eliminate an unspecified amount of jobs and close certain plants in a restructuring effort expected to generate cash savings of $230 million to $260 million a year.
Walt Disney Co. on Wednesday said it will lay off an unspecified number of workers as it restructures its U.S. theme parks in the wake of declines in attendance and revenue.
With U.S. automakers asking for billions more dollars in aid from the U.S. government, it’s worth asking something that was almost unmentionable just a few months ago: Shouldn’t General Motors and Chrysler just file for bankruptcy?
Smithfield Foods Inc. said Tuesday it plans to cut 1,800 jobs and close six factories — including one in its Virginia hometown — as part of a restructuring that comes amid an overall slump in the meat industry.
Phillips-Van Heusen Corp., which owns the Calvin Klein, Izod and Van Heusen clothing brands, said Wednesday it will close 175 stores and lay off 400 employees due to the recession.
President-elect Barack Obama is considering dissolving a White House-based homeland security panel created in the wake of 9/11 and will restructure counterterrorism policy under intelligence veteran John Brennan.
Shares of Lenovo Group tumbled Thursday after the world's fourth-largest computer maker warned it expects a loss for its latest quarter and will lay off 11 percent of its work force and cut executive pay.
Lenovo Group said Wednesday it will lay off 2,500 workers, or about 11 percent of its work force, as part of a plan aimed at helping the computer maker remain competitive amid the global economic downturn.
Sotheby's auction house says the company has approved a restructuring plan which will result in salary reductions and layoffs, due to lower-than-expected earnings.
Wall Street Restructures; Will Commercial Market?n New York City, the current crisis has led some to speculate that the city's financial services industry may be in for a permanent restructuring which could mean further uncertainty in the commercial real estate office market.
Jury is out on city shakeupThe city is scrutinizing its entire operation, determining its priorities and what it can afford, reorganizing and streamlining its services, starting at the top and "rethinking the way we do business," Mayor Eddie Francis said this week.
Chrysler: Better off dead? - Top Stocks Blog - MSN MoneyThe government was successful when it warned that Chrysler might be forced into liquidation if the Supreme Court delayed its Chapter 11 process by more than a few days.
Steeper yield curves Gain in pending home sales would determine whether the sector has bottomed out. Tracking Market Lexicon; Credit Crunch ---> Bail-out ----> Green Shoots Australia leaves Rates unchanged; deflation may prompt further easing.
Why bankruptcy might not be so bad for GMBankruptcy might not be the end of the road for General Motors. Reports about the example of Chrysler's bankruptcy show it is emerging in a stronger position and buyers are stepping up for cars.
'hugo' Obama's Printing Press Gives Another $7.5 Billion To Gmac The Obama administration announced late Thursday that it's forking over another $7.5 billion to GMAC, LLC (General Motors Acceptance Corp.).
GM to cut 3,400 more white-collar U.S. jobs | Freep.com | Detroit Free PressWithout declaring bankruptcy GM is getting much of the cutting done.
Mr. Cantor's Neighborhood: The minority whip's vision for a kinder, gentler GOP.Change has indeed come to Washington. The GOP is going on a listening tour.
Chrysler Bankruptcy Plan Is Announced President Obama forced Chrysler into federal bankruptcy protection on Thursday so it could pursue a lifesaving alliance with the Italian automaker Fiat, in yet another extraordinary intervention into private industry by the federal government.
Treasury Lends $2B More to GMTaxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court. See more irresistible headlines
Steel may give auto industry restructuring roadmap -The 57-year-old steelworker from Port Vue, Pa., lived through painful restructuring that drastically reshaped the domestic steel industry. The most recent crisis, from 1998 through 2003, involved dozens of bankruptcies, huge job cuts and mill closures.
Minnesota Restructures Grad SchoolThe University of Minnesota is restructuring its graduate school, changing it from a "free-standing" administration to part of the provost's office, the Minnesota Daily reports.
Report: GM bondholders could get 20% company stakeGeneral Motors Corp.'s bondholders could end up owning a 20% stake in the struggling automaker as part of the company's restructuring efforts, a new industry analysts' report said.
JPM Commercial Real Estate loan "Nightmare" predictionsWith commercial property prices falling by as much as 40 percent from peak-to-trough, servicers may adopt an "extend everything" policy since liquidating assets in a distressed and illiquid market may cause deeper losses.
XE.com - UPDATE 1-Moody's sees severe recession; default rates upMoody's predicts 10-12% high yeild default rate, 1.5 reduction in GDP in 2009. Do the credit rating agencies have any credibility left?
Loans to Companies in Bankruptcy Dry Up - BusinessWeekDIP financing is the lifeblood/oxygen of any restructuring inside of bankruptcy. The current lack of DIP financing in the marketplace is well known to turnaround professionals. There is no questions that this will lead to more liquidations than would otherwise be the case.
Threat to SEC as Madoff breaks bail by mailing $1m in jewelleryThe threat to the survival of the SEC came as it emerged that Bernard Madoff has violated the terms of his bail conditions by posting jewellery worth $1 million (£680,000) to family members and friends while under 24-hour house arrest.
Chapter 11 May Not Deter Some Car Buyers - WSJ.comIs anyone really surprised that a federally guaranteed bankruptcy would not impact auto purchasers decision making? GM needs to go into a court supervised restructuring now and begin the process.
Ecuador Defaults on Bonds, Seeks Restructuring The President of Ecuador, Rafael Correa, refuses to pay interest payments due on Dec. 15 charging it is an "illegal"debt. Ecuador, which defaulted in 1999, owes about $10 billion to bondholders, multilateral lenders and other countries.
GM Chief Says He'd Accept Strict Bailout Conditions (Update1) General Motors Corp. Chief Executive Rick Wagoner told lawmakers he would accept strict conditions for a U.S. loan to stay afloat, including a promise to return the money and file for bankruptcy if his company doesn't fulfill the terms.
Citigroup cutting 53,000 more jobsCitigroup Inc. announced Monday that it will eliminate approximately 53,000 more jobs in the near future as part of its wide cost-cutting efforts.
ProLogis: Nothing is off the TableNothing is off the table," for ProLogis according to new CEO, Walter C. Rakowich--who replaced Jeffrey H. Schwartz following Schwartz's resignation Wednesday.
The new Pixar movie goes out of its way to equate obesity with environmental collapse.excerpt:"Pixar's new animated feature Wall-E is more than a great movie. According to the critics, it's a trenchant social commentary.
Nanotubes bring artificial photosynthesis a step nearerCarbon nanotubes are the crucial chemical ingredient that could make artificial photosynthesis possible, say a team of Chinese researchers. The team has found that nanotubes mimic an important step in photosynthesis that chemists have been unable to copy until now.
Australian jobs lost in Maersk restructureA little bit of unfortunate news for some of my former Maersk colleagues/clients, but perhaps new opportunities may open up.
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