An oncoming wave of oil industry job cuts and restructuring is only the first inning of a long game, experts tell CNBC.» Read More
"These restaurant closures will have a positive impact on our future earnings, cash flow and return on invested capital," Dave Goebel, president and chief executive officer, said in a statement.
British music and books retailer HMV issued a profit warning on Tuesday as it announced a three-year plan to cope with tough competition from supermarkets and Internet retailers.
Coca-Cola said on Friday that it is reorganizing its North American business to better reflect its strategic focus and creating three new business units for its sodas and other beverages as part of the change.
Coca-Cola Enterprises , the biggest bottler of Coca-Cola beverages, said it will cut 5% of its work force, or about 3,500 jobs, as part of a restructuring expected to cost $300 million.
Ford Motor Co. had the worst year in its 103-year history in 2006. The automaker lost $5.8 billion in the fourth quarter alone – and lost $12.7 billion on the year. Yet CEO Alan Mulally - who came to Ford after overhauling aerospace giant Boeing - is reportedly considering paying bonuses to some of Ford’s managers, even as the company seeks concessions from its unions and predicts more losses this year.
DaimlerChrysler's Chrysler Group should have a restructuring plan ready by February as it aims to recover from a loss expected to be near $1.3 billion for 2006, the automaker said.
Delphi laid out a road map for its reorganization on Monday that includes up to a $3.4 billion investment from a private equity group in the bankrupt auto parts maker, potential creditor recoveries and an executive succession plan.
Citigroup shares posted the biggest gain in nearly eight months amid speculation the banking giant may divest some businesses and that CFO Sallie Krawcheck may be replaced.