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CFO Dive
OCTOBER 17, 2024
The biotech will also be reducing its total workforce by approximately 33% and tapped its COO to take on responsibilities for finance as part of the restructuring.
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CFO Dive
APRIL 26, 2023
The seller of women’s handbags is planning to cut as many as two dozen jobs as part of a corporate restructuring initiative targeting $12 million in incremental cost reductions.
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Crafting Impact: Revenue Growth And Efficiency For Finance Professionals
Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors
From Start to Scale: Driving Growth Through Seamless Payments Implementation
The New Way CPAs are Delivering Value: Aligning Automation with Client Success
Profit in the Details: Rethinking Spend for Monumental Impact
CFO Dive
APRIL 24, 2023
In a memo to employees from CFO Christine McCarthy that was later leaked, she outlined plans for changes to the structure of the company’s financial team, according to a Business Insider report.
250 Crafting Impact: Revenue Growth And Efficiency For Finance Professionals
Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors
From Start to Scale: Driving Growth Through Seamless Payments Implementation
The New Way CPAs are Delivering Value: Aligning Automation with Client Success
Profit in the Details: Rethinking Spend for Monumental Impact
CFO Dive
JULY 25, 2024
Longtime company alum Jaime Martinez will step in as interim CFO as Flex looks to execute on a restructuring plan aimed at improving its operational efficiency.
236 
CFO Dive
JANUARY 11, 2023
Alcoa’s controller will move to its CFO seat among an executive restructuring plan designed to help the company focus more deeply on cost and innovation.
251 
Global Finance
AUGUST 16, 2024
The rattled corporation faces a rocky road through a wide-ranging restructuring, but some analysts see a more competitive company emerging. Many analysts greeted the plan with skepticism. Many analysts greeted the plan with skepticism. The restructuring itself is a complicated affair.
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CFO Dive
APRIL 19, 2024
The manufacturer’s CFO is stepping into the interim CEO seat after Jabil struggled with “revenue headwinds” amid an ongoing restructuring and cost realignment plan.
184 
CFO News Room
NOVEMBER 8, 2022
Michael Kitces is Head of Planning Strategy at Buckingham Strategic Wealth , a turnkey wealth management services provider supporting thousands of independent financial advisors. In 2010, Michael was recognized with one of the FPA’s “Heart of Financial Planning” awards for his dedication and work in advancing the profession.
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Corporate Finance Lab
JULY 18, 2023
The long anticipated law of 7 June 2023 implementing the European Directive on restructuring and insolvency brings about a major reform of Belgian insolvency law. The debtor was the only party able to initiate the procedure and to draw up and file a reorganisation plan. Which measures can be imposed on shareholders?
Corporate Finance Lab
DECEMBER 3, 2021
The official deadline for the implementation of the Directive (EU) 2019/1023 on restructuring and insolvency was scheduled for 17 July 2021. Such class formation for the approval of a restructuring plan is unprecedented in Belgian insolvency law and could completely upset the bargaining dynamics between stakeholders in Belgian restructurings.
PYMNTS
SEPTEMBER 14, 2020
The split must be achieved by June of 2024, and companies will have to outline their plans for such a split by Oct. Deloitte’s plans also come as it plans to look into selling its restructuring arm in spite of the surging demand for insolvency services. announced its plan to disentangle the groups’ various arms in July.
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Future CFO
JANUARY 11, 2024
CFOs must lean on a systematic phased approach to restructuring strategies for the future to be able to plan correctly , and consequently execute and adapt. Phase 1 – The case for change In the initial phase, finance leaders must make a compelling case for change and communicate the strategic rationale behind the restructuring.
PYMNTS
JULY 19, 2019
To look into debt restructuring options that would provide the retailer more time to make a turnaround, JCPenney Co Inc has reportedly hired advisers. Even so, one of the unnamed sources put out the caveat that the plans for restructuring are at an early stage.
Corporate Finance Lab
JULY 11, 2023
The long anticipated law of 7 June 2023 implementing the European Directive on restructuring and insolvency brings about a major reform of Belgian insolvency law. The debtor stays in possession and draws up a reorganisation plan proposing debt write offs and other concessions to be made by the creditors.
CFO News
MAY 21, 2024
US-registered Razorpay is quickening plans to shift its domicile to India. For the same, it has initiated a restructuring exercise through which half a dozen India units are being brought under one holding company.
PYMNTS
APRIL 22, 2020
A third of online lender LendingClub ’s workers will be laid off , the company said on Tuesday, April 21. That’s 460 employees, including President Steven Allocca, as the company tries to navigate the tumultuous economy surrounding the coronavirus pandemic and slash costs.
CFO Simplified
FEBRUARY 11, 2022
Larry Chester, CEO of CFO Simplified, was featured on NADC BoardTalk to discuss business planning for small to medium-sized businesses in 2022. His team serves as fractional CFOs to companies in many industries, from start-up to middle market, providing cash flow planning and other services that drive profitability.
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PYMNTS
JULY 22, 2020
In an earnings call, Donahoe focused not on the revenue loss but the company’s plans to reboot the company, transforming its digital offerings, consumer services, and in-store experiences. “We Nike said previously that the cuts are not related to their $790 million loss in revenue reported in the fourth quarter.
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Nerd's Eye View
OCTOBER 16, 2024
Since the Tax Cuts & Jobs Act (TJCA) was passed in 2017, few households have been subject to the Alternative Minimum Tax (AMT), which TCJA restructured so that it applied mainly to a select number of upper-income households.
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PYMNTS
OCTOBER 28, 2019
Losses at some HSBC businesses are causing the bank — Europe’s largest — to restructure, CNBC reported Monday (Oct. HSBC group CFO Ewen Stevenson announced plans to restructure the businesses with the greatest losses, its U.K. We haven’t yet sized what that means in terms of the restructuring.”. businesses.
CFO News
DECEMBER 16, 2022
The company owes a group of 10 lenders led by State Bank of India (SBI) a total of ₹4,900 crore. Delays in payments had meant the account was tagged as NPA in the fourth quarter of last fiscal. However, the company cleared its outstanding dues in the last three months and has proposed a fresh payment schedule to banks.
PYMNTS
AUGUST 28, 2020
Reuters quoted Dennis Baden , partner in charge at executive search firm Heidrick & Struggles, as saying: “We didn’t see a lot of restructuring or layoffs with the banks (earlier in the pandemic). and we might see an increase in restructuring.”. We’re starting to see it now. things will get a little bit worse. and Wells Fargo.
108 
PYMNTS
OCTOBER 22, 2020
HSBC will be restructuring its commercial banking business in Britain which will result in 300 job cuts, according to Reuters. The cuts come as part of Europe's largest bank's larger restructuring effort from earlier this year, with HSBC looking to cut costs worldwide as the ability to boost revenues becomes more difficult.
PYMNTS
SEPTEMBER 22, 2020
As of last year, Deutsche has been undergoing a restructuring effort that encompasses a decrease of its balance sheet, 18,000 employment reductions by 2022 and less investment banking activity. PNC Bank plans to reduce the count of its branch offices through next year, Fox Business reported. In the U.S.,
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PYMNTS
OCTOBER 30, 2019
Germany’s Deutsche Bank reported a net loss below market expectations amid a restructuring plan that includes about 18,000 layoffs, The Wall Street Journal (WSJ) reported Wednesday (Oct. The restructuring has Deutsche Bank leaving equities trading along with other operations that aren’t profitable. in the coming months.
PYMNTS
FEBRUARY 21, 2020
The company wants to keep restructuring efforts out of court but could end up filing for bankruptcy with a prenegotiated plan in place. Earlier this year , the company announced plans to purchase Habit Restaurants, the casual fast-food chain. The news, reported by Bloomberg on Wednesday (Feb.
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PYMNTS
JULY 23, 2020
The retailer and “certain of its subsidiaries” have come to a restructuring support agreement (RSA) with more than 68 percent of secured term lenders, according to a Thursday (July 23) statement.
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PYMNTS
APRIL 14, 2020
WeWork plans to make additional reductions to its workforce, even with the recent removal of jobs, Bloomberg reported. Mathrani said that “restructuring is inevitable” for the firm to have success in the future. Mathrani said that “restructuring is inevitable” for the firm to have success in the future. did as well.
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Nerd's Eye View
NOVEMBER 8, 2022
What's unique about Cean, though, is how the path that he and his partners took to break away from the insurance and brokerage worlds to run their own independent RIA inadvertently created a three-way struggle to find the proper compensation and accountability structure across their differing books of business, and ultimately forced them to seek third-party (..)
PYMNTS
AUGUST 23, 2020
The pandemic has fueled the need for European banks to restructure following years of poor performance. For example, based on weak returns, the newspaper reports HSBC is planning to trim 15 percent of its workforce. For example, based on weak returns, the newspaper reports HSBC is planning to trim 15 percent of its workforce.
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Nerd's Eye View
FEBRUARY 13, 2024
Melody is the president of Townsend Financial Planning, an RIA based in Lexington, KY, that oversees $112 million in assets under management for 160 client households.
Accountancy Today
JANUARY 17, 2023
Commenting on the figures, Colin Haig, partner and head of Restructuring at Azets, said: “It’s inevitable that failure statistics will uptick regularly in UK but that’s not the whole story. The more constructive options of air cover via a moratorium or a restructuring plan are viable for businesses that consult early.
CFO Thought Leader
OCTOBER 18, 2023
943: Finding the Path Forward | Donald McClure, CFO, Identity Digital MADE POSSIBLE BY PLANFUL | Planful is the pioneer of financial performance management cloud software. Planful empowers finance, accounting, and business users to plan confidently, close faster, and report accurately.
PYMNTS
FEBRUARY 14, 2020
MyTheresa , the online luxury fashion retailer, plans to list on the New York Stock Exchange to take advantage of robust equity markets. Neiman Marcus has faced a lawsuit in the New York State Supreme Court over a debt restructuring that creditors said caused a decline in the value of MyTheresa.
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PYMNTS
OCTOBER 29, 2019
A trial has begun against the financial institution Royal Bank of Scotland (RBS) brought by a small business owner and former RBS client suing the bank for damages related to RBS’s disgraced Global Restructuring Group (GRG). Bloomberg reported Tuesday (Oct. RBS has denied the allegations and says it acted lawfully, according to reports.
CFO News Room
JANUARY 5, 2023
The company said it is exploring financial options including restructuring, seeking additional capital or selling assets, in addition to a potential bankruptcy. The company was spun off from General Electric as part of the conglomerate’s plan to break up into three separate companies.
130 
PYMNTS
FEBRUARY 24, 2020
Dine Brands also owns IHOP, and it said that it wasn’t going to close more than 15 Applebee’s restaurants after it recently closed 200 under a restructuring plan. The news comes amid increasing challenges for so-called casual dining restaurants as they face a bevy of healthier choices and more competition from delivery services. .
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PYMNTS
JANUARY 30, 2019
Treasury’s Asset Protection Agency (APA) allegedly influenced the strategy of RBS’s Global Restructuring Group (GRG), the unit found to have unfairly treated small business customers and pushed some into insolvency. The FCA plans to publish a full report on the findings of its GRG probe, reports said.
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CFO News Room
JANUARY 4, 2023
Salesforce — Shares of the cloud-based software company jumped more than 3% after Salesforce announced that it is cutting 10% of its personnel and reducing some office space as part of a restructuring plan. In 2021, GE revealed plans to break up into three companies so it can focus on its aviation business.
130 
Nerd's Eye View
MAY 30, 2023
Tim is a Managing Partner for the Center for Financial Planning, a hybrid advisory firm based in Southfield, Michigan, that oversees $1.5 Welcome back to the 335th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Tim Wyman. billion in assets under management for 1,000 client households.
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PYMNTS
MARCH 6, 2019
The jeans maker and retailer is looking to have court approval for its reorganization plan by mid-April, The Wall Street Journal reported. And a failed restructuring out of court as well as the decision of management to go into new leases “worsened [Diesel’s] problems in the long-term rather than solve them,” Samson told the paper.
47 
Corporate Finance Lab
AUGUST 19, 2022
Frederik De Leo) The impact of the EU Restructuring Directive on the Belgian collective plan: “To class or not to class?” – that’s the question for the Belgian legislator (Jente Dengler).
CFO News
DECEMBER 20, 2023
An ad hoc group holding two guaranteed bonds of Vedanta Resources (VRL) has advised investors to reject the proposed bond restructuring outlined in the consent solicitation released on December 13. The ad hoc group includes holders of $1 billion 13.875% bonds due in January 2024, $1.2
PYMNTS
FEBRUARY 26, 2020
Frumkin is a restructuring specialist who was put in his new position last week after working on an interim schedule in 2019. Metro ’s new plan involves growing deposits at a rate of less than 10 percent per year until 2024, and focusing on current inexpensive accounts instead of going after savings offers.
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