Category: Restructuring
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Matter Labs to cut 16% of workforce amid organizational restructuring
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Matter Labs, the lead developer of Ethereum’s layer 2 ZKsync solution, has announced that it will reduce its workforce by 16% due to a major organizational restructuring. The company will scale back these functions to better align with evolving technology and support needs of ZKsync (ZKSY) developers. in statement Speaking…
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Meyer Burger halts solar plant in Colorado, plans restructuring By Reuters
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Swiss solar panel maker Mayer Berger said on Monday it had suspended plans to build a factory in Colorado after announcing restructuring measures and indicating profitability would be lower than previously expected. Mayer Berger Technology AG announced today that the planned construction of a solar cell production facility in Colorado…
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Porsche agrees to provide capital in Varta restructuring deal By Reuters
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By Alexander Hubner and Emma Victoria Farr FRANKFURT (Reuters) – German battery maker Varta said on Saturday it had reached a restructuring agreement with its creditors, calling on sports carmaker Porsche to step in to rescue the troubled company. The company said the deal, reached after days of intense negotiations,…
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Tata Steel workers and suppliers receive £13.5 million in emergency funding amid Port Talbot restructuring
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The UK government has announced £13.5m of emergency funding to support supply chain companies and workers affected by Tata Steel’s restructuring plans at its Port Talbot site in South Wales. The funding represents the first allocation from a transitional board set up to manage the impact of Tata’s switch from…
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Genesis Finalizes Restructuring Plan, Initiates Repayments
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Genesis Global Capital, a bankrupt crypto lender, has completed its restructuring and started repaying creditors. The development comes amid reports that Genesis has been conducting large-scale network transactions in the last day. Genesis Moves $1.5 Billion in Bitcoin and Ethereum to Pay Off Debt according to Bloomberg Report Genesis and…
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Genesis Finalizes Restructuring Plan, Initiates Repayments
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Genesis Global Capital, a bankrupt crypto lender, has completed its restructuring and started repaying creditors. The development comes amid reports that Genesis has been conducting large-scale network transactions in the last day. Genesis Moves $1.5 Billion in Bitcoin and Ethereum to Pay Off Debt according to Bloomberg Report Genesis and…
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Virtu Financial Seeks $500 Million in Debt Restructuring
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Virtu Financial announced that it is seeking $500 million in financing to restructure primary debt. According to the company, the first lien notes are intended to improve Virtu Financial’s financial position by repaying existing debt and positioning the company for growth. Virtu restructures debt According to the press release, Virtu…
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One in fifteen European companies face restructuring pressure, with Germany, Austria, and the Nordics taking the lead
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One in fifteen European companies is facing significant restructuring pressure this year after being hit by high financing costs and weak consumer demand, with Germany, Austria and the Nordic countries particularly under pressure, according to a report issued by Boston Consulting Group. About a third of companies in Germany and…
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Seven Percent of European Firms Face Restructuring Pressure
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Breadcrumb links BMN Business One in fifteen European companies is facing significant restructuring pressure this year after being hit by high financing costs and weak consumer demand, with Germany, Austria and the Nordic countries particularly under pressure, according to a report issued by Boston Consulting Group. Article writer: Bloomberg News…