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restructuring
Venezuelan bond rally fades as earthquakes darken debt outlook
Venezuelan sovereign bonds and debt issued by state oil company PDVSA are sliding as investors reckon with the financial fallout of the devastating June 24 earthquakes, which have compounded what was already shaping up to be the largest sovereign debt…
Volkswagen stock nears 15-year low on reports of 100,000 job cuts
Shares in Volkswagen AG fell nearly 2% on Monday to approach their lowest level since October 2010, after reports emerged that the automaker is preparing to eliminate up to 100,000 jobs and close four German factories in one of the…
BAT to cut 5,500 jobs in AI-driven restructuring
British American Tobacco announced on Monday that it will eliminate 5,500 jobs and transfer an additional 3,500 roles to third-party firms including Accenture, affecting roughly 9,000 employees — about 20% of its non-U.S. workforce — as it accelerates an AI-powered…
VW CEO plans to cut 100,000 jobs worldwide, report says
Volkswagen CEO Oliver Blume is planning to eliminate up to 100,000 jobs worldwide over the coming years, according to a report by Manager Magazin published on Wednesday, marking a dramatic escalation of the German automaker's already sweeping restructuring campaign.
VW CEO lays out sweeping restructuring at annual meeting
Volkswagen CEO Oliver Blume used the automaker's annual general meeting on Thursday to lay out a sweeping plan for the future, warning shareholders that rising geopolitical tensions, fierce competition, and trade barriers demand faster and deeper changes at Europe's largest…