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Cabot Corporation Announces Restructuring Plan
2015-10-26 05:01:34| pollutiononline Home Page
On October 20, 2015, Cabot Corporation announced its intention to restructure its operations with anticipated cost savings of approximately $50M in fiscal 2016 as compared to fiscal 2015
Tags: plan
corporation
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restructuring
Marvell announces major restructuring of mobile business
2015-09-25 09:35:00| Telecompaper Headlines
(Telecompaper) Marvell Technology announced plans for a significant restructuring of its mobile platform business in order to focus on more profitable products and opportunities. Going forward, the company will focus on wireless connectivity products, including Wi-Fi and other wireless standards needed to support its strategies in existing markets as well as expanding into emerging opportunities in the IoT and automotive segments. The restructuring plan will see the company cut 17 percent of the workforce associated with mobile and reduce annual operating costs by a total USD 170-220 million. The mobile platform business is currently expected to reach a gross profit of USD 13 million on revenues of USD 122 million in the first half of fiscal 2016. The restructuring will begin immediately and the company expects the major activities will take place through the end of fiscal 2016. The cost of the restructuring is estimated at USD 100-130 million, including USD 45-55 million in costs for the lay-offs in the second half of the fiscal year. Other major components include facilities and asset impairment charges of USD 30-40 million and an inventory writedown of USD 25-35 million. The company said it will discuss the restructuring of the mobile platform business in more detail during its next quarterly earnings conference call, the date of which is yet to be determined.
Tags: business
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Cree announces major LED restructuring plan
2015-06-25 02:19:58| Semiconductors - Topix.net
Durham LED maker Cree announced Wednesday that it is restructuring its LED products business - the unit that creates LEDs for everything from televisions to mobile phones. Via a company statement, Cree blames LED market trends that have resulted in "higher LED average selling price erosion" than what had been predicted, as well as "the continued under-utilization of Cree's LED factory."
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led
announces
Kraft Foods Group Announces $650 Million Restructuring
2015-06-17 17:04:26| Food - Topix.net
On Oct. 29, 2012, Kraft Foods Group Inc.'s board of directors approved a $650 million restructuring, related implementation and spinoff transition program, the company said in a U.S. Securities & Exchange Commission filing. Global snacks business Mondelez International Inc., formerly Kraft Foods Inc., completed the previously announced spinoff of its North American grocery business, Kraft Foods Group Inc., in early October.
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Albright Technologies Announces Organizational Restructuring
2015-04-23 12:31:09| Industrial Newsroom - All News for Today
Leominster, Massachusetts - Albright Technologies, a leading provider of silicone prototyping and low-volume production molding solutions, announced today a restructuring of its organization following a comprehensive evaluation of its workforce. The restructuring will pose the company to be better suited to the...
Tags: technologies
organizational
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restructuring