Latest news with #corporaterestructuring
Yahoo
09-07-2025
- Business
- Yahoo
Intel Corp. (INTC) Surges 7.23% as Investors Cheer Restructuring Plan
Intel Corporation (NASDAQ:INTC) is one of . Intel Corp. rallied by 7.23 percent on Tuesday to close at $23.59 apiece as investor sentiment was buoyed by its ongoing corporate restructuring plan to claw back to profitability. Part of the move will see 529 jobs laid off across four major campuses in Oregon beginning July 15, the company said. The layoffs will affect employees at the Aloha, Hawthorne Farms, Ronler Acres, and Intel Jones campuses in Hillsboro. 'We are taking steps to become a leaner, faster, and more efficient company. Removing organizational complexity and empowering our engineers will enable us to serve the needs of our customers better and strengthen our execution,' Intel Corporation (NASDAQ:INTC) said. 'We are making these decisions based on careful consideration of what's needed to position our business for the future, and we will treat people with care and respect as we complete this important work,' it added. A technician soldering components for a semiconductor board. The recent job cuts form part of the company's plan to reduce its workforce by 15 to 20 percent, citing affordability challenges and its current financial position. While we acknowledge the potential of INTC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
08-07-2025
- Business
- Bloomberg
Pfizer's Reputation Chief Leaving as Company Shuffles Executives
Sally Susman, who has presided over Pfizer Inc. 's public communications for nearly two decades, will leave the company this year as part of a broader corporate restructuring. Susman's work as chief corporate affairs officer will be split among five executives at the company, Chief Executive Officer Albert Bourla said in a companywide email Tuesday that described the move as a mutual decision. Four of her top deputies will also leave the company, according to a person familiar with Pfizer's plans.
RNZ News
17-06-2025
- Business
- RNZ News
FMA confirms job cuts
Photo: RNZ / Quin Tauetau The country's leading financial market regulator has confirmed it cut 20 jobs in a recent backroom restructuring to cut costs. RNZ business revealed the move in March and the Financial Markets Authority said the job losses have not compromised its priorities. The FMA said it had reorganised its corporate and other support functions. It said some staff took voluntary redundancy, and others redeployed within the FMA, but did not detail if there were forced redundancies. It now has a staff of 350 from 370 previously. The Authority's executive director transformation and operational delivery, Kari Jones, said the agency continued to deliver priorities in a financially sustainable way, and was ensuring its people were supported through the process. It was not clear how much the FMA had refined its balance between rule enforcement and consumer protection on the one hand, and improving finance industry relations on the other, which were said to be a cause of tension within the organisation.
Forbes
17-06-2025
- Business
- Forbes
How To Transition From Captive To Independent Technology Services
Suresh is the Cofounder & Chairman of Mindsprint, as well as the Cofounder & CEO of Nupo Ventures. Both are businesses of Olam Group. Corporate restructuring often presents organizations with what appears to be straightforward strategic shifts. However, having recently navigated the transition from a captive technology and shared services provider (that is, a wholly owned internal unit) to an independent business unit focused on new customer acquisition, I've observed the opposite: The operational, cultural and human elements of this change create a multidimensional challenge that requires careful orchestration and thoughtful leadership. The transition requires concurrent change at multiple levels, namely: building new capabilities, onboarding people with relevant experience to augment leadership, strengthening, streamlining and defining signature processes, redefining an operating model in line with new norms, redesigning the organizational structure, focusing on strengthening the culture to align with the new direction and finally—but more importantly—building a purpose, vision and strategic plan to achieve success as an independent technology services company. While each of the elements above has its own challenges, I would like to highlight the nuances around culture and people (old versus new). Services are all about people, and hence, it is critical to have the right mix at various levels, especially senior and middle management, who carry leadership responsibilities. As we set out to refine the structure and onboard people to augment the new capabilities we need, there were two things we had to be mindful of: (1) how do we perfectly blend the teams and ensure they live the values and build the culture we want and (2) how do we manage the classic "old versus new" dynamic that arises in any organization experiencing a large influx of people from outside. As a captive, our culture was different; it was more influenced by the larger organization and shared across business units and functions. All employees were aligned to a strong purpose, had a clear sense of identity and developed deep personal relationships with business and functional stakeholders. They were clear in their pursuit of serving them. We were respected and appreciated for our domain knowledge and our alignment with business goals. However, a well-functioning captive could, over the years, become complacent, leading to weak processes and poor governance. Tolerance for failure tends to be higher; internal stakeholders may forget and forgive—you get a bit of a long rope. The cultural challenge we faced was transforming a legacy captive mindset into one that is customer-obsessed and focused on customer delight and outcomes. It didn't take long to realize that our captive customers, soon after the restructuring, began behaving like any other new customer. Every dollar earned was as good as new business—nothing was guaranteed in perpetuity. We had to compete to win, govern to excel and deliver to delight them in ways very different from our captive past. Internally, we had to restructure to serve and consistently emphasize an attitude of customer centricity and obsession in serving our good old friends. This mindset is crucial to triggering all the other changes required to operate as an independent services provider, building strategic partnerships with our customers, both old and new. The second challenge is promoting objectivity in all our debates and discussions against the backdrop of diverse perspectives emerging at different levels, driven by a significant change in the mix of old and new talent. We had to onboard people at senior and middle levels to build and lead new functions, drive change management and strengthen internal processes. Regardless of the industry or company, when there is a heavy mix of new and old talent, divides often emerge along classic fault lines: the "old" believing the "new" don't understand the company or business, and the "new" thinking the "old" have been doing things the wrong way. If not addressed early, these divides can lead to a dysfunctional organization working at cross purposes, confusing the lower levels and diluting an outcome-based approach, ultimately putting the vision and goals at risk. Driving consensus in such scenarios becomes very difficult, and resources can be drained by endless debates, causing you to miss precious opportunities for change. First, it all starts with a purpose, vision and a strategic plan that clearly defines why you are in business, what your vision is and what your goals are. The approach to building a business needs to be understood by everyone in the organization. While, as a captive, it was sufficient to align with the group business strategy, in our independent journey, it was critical to understand our own strategy—how we differentiate, what capabilities we build and which markets and segments we serve. Second, you must reinforce the key tenets of the transition from a captive to an independent organization. Without this, change will not happen. What does this mean? For us, we examined: What was our culture, and what do we aspire to become? Do our values reflect our purpose and vision? What will change—is it the structure, the roles, the responsibilities or the KPIs? You need to clarify how you will make this transition: What the new operating model looks like, what your signature processes are and how you will measure progress. All of this must be clearly laid out. Finally, a heightened awareness of the need for objectivity in all discussions will help manage the friction between the "old" and the "new." You must constantly remind managers to lead with this mindset in both discussions and decisions. You have to keep your purpose, vision and goals front and center. The "old" must be encouraged to leave behind the irrelevant parts of the past, retain the best and move forward. The "new" must bring in fresh perspectives while showing empathy toward legacy practices—after all, those practices existed for a reason. Ultimately, this presents a truly compelling value proposition for both the "old" and the "new." The transition from being part of a large group (as a captive) to shaping your own destiny is exhilarating. It's a rare opportunity to operate with the mindset of a cofounder and bring your shared vision to life. In return, you gain an immensely rewarding career, rich with learning at every step of the journey. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Yahoo
31-05-2025
- Business
- Yahoo
NFW's Corporate Restructuring Spawns Third Wave of Layoffs
Bad news comes in threes—at least for NFW. The Illinois-based plant-based plastic provider's third round of corporate restructuring in as many years has (predictably) led to layoffs. More from Sourcing Journal Chemical Textile Recycler Eeden Closes $20M Funding Round Material Innovation Initiative Makes a Comeback Material World: Still Burning Bras? You Can Bury Balena's In line with previous press statements, NFW did not share quantitative details on just how many people, exactly, were reorganized this week in Peoria. Or where, as the plant-based and plastic-free materials maker has a few facilities in the city, some 10 miles apart. Per a press statement, the recurrent 'difficult decision' was not made lightly and 'affects many talented team members whose work has helped bring our mission to life,' NFW said. It is unclear how many positions were terminated. The shift will streamline technical solutions for partners throughout the supply chain, CEO Steve Zika said, though NFW's mission will 'remain unchanged.' 'We are evolving our model to operate more squarely as an intermediates business: Embedding our IP directly into the supply chains of leading brands and manufacturers rather than producing materials ourselves,' said Zika. 'This allows us to scale faster, reduce resource intensity, and make our sustainable technologies more widely.' Bradley University and Illinois State University's joint NPR network, first reported the news last Friday. NFW was unable to share any additional information with Sourcing Journal. For context: Luke Haverhals founded NFW back when it was known as Natural Fiber Welding. Citing personal reasons, the Bradley professor resigned as CEO last October, as announced at the top of 2024's fourth fiscal quarter, but would remain on the board. Then-president Zika resumed the role in November 2024. Days preceding Zika's promotion, NFW has furloughed a 'significant' portion of its staff; what a spokesperson previously attributed to delays in customer contracting—rendering NFW 'unable to close a bridge round of funding that's been in the work for several months,' a local news channel reported at the time. The Another Tomorrow collaborator's last known dismissal data affected 10 percent of its workforce—reportedly representing 'less than 30 employees' spanning the C suite to the cutting room floor—in April 2023. This alleged trimming of the fat in preparation for scaling Mirum was not indicative of any financial issues or operational shortcomings. 'This shift marks a new chapter for NFW,' the company said. 'One rooted in the same purpose of displacing petroleum-derived synthetic materials, but with a renewed focus on our core chemistries in order to drive greater impact over time.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
