Hewlett Packard Enterprise plans to cut its workforce by 10%, according to a person familiar with the plans, the latest cost cuts as the business-technology giant combats increasing competition and higher component prices.
“The cuts at the company, which has about 50,000 workers, are likely to affect workers in the U.S. and abroad, including managers,” Bloomberg reported, based on unnamed sources.
The Swiss luxury giant Richemont has opened a research and innovation center in Microcity, Switzerland’s well-known think tank and laboratory.
The Richemont’s group research and innovation director, Edouard Mignon, said the partnership was intended to supplement the research and development teams of the brands, promote sharing among companies, “and serve as an innovation incubator for the group as a whole, to develop mechanical specialties and, for example, to imagine new materials.”
Toys “R” Us announced late Monday night that it filed for Chapter 11 bankruptcy, though the company’s leadership assured customers its 1,600 stores around the world would continue to operate normally. The company, once America’s powerhouse of toys, has been struggling for years even as the toy industry grew.
Instead, it plans to restructure the $5 billion of long-term debt with which the company is saddled in hopes of keeping it afloat in a marketplace that has vastly changed with increased competition from both big box stores such as Walmart and Target, and online retailers such as Amazon.
Google parent company Alphabet is in talks to invest around $1 billion in Lyft, according to published reports. The talks are being driven by top officials at Alphabet, according to Axios. The potential investment could come from either Google or from CapitalG, Alphabet’s investment division, Bloomberg reported.
Swiss luxury goods group Richemont has reported a 12 per cent rise in sales in the five months to August 31 in constant currencies, boosted by jewellery and strong performances in China and Hong Kong.
KLM has launched a Whatsapp service for businesses, allowing passengers to receive flight information through the messaging app.
The Dutch company has become the first airline out the gates with a presence on Whatsapp Business, a dedicated channel in which companies can reach out to their customers.
Angry Birds maker Rovio will float shares on the Nasdaq Helsinki stock exchange, confirming rumours of an imminent initial public offering (IPO) which emerged last month.
The developer of the first mobile game to hit one billion downloads will issue €30m in shares in the Finnish capital, where it is headquartered, it said in a statement.
McDonald’s faces its first strike since it opened in the UK in 1974, as well as protests by unions and the public at several restaurants over pay and working conditions.
Staff in Cambridge and Crayford, south-east London, walked out in a row over the use of zero-hours contracts and "inexplicably" low pay.
The Bakers, Food and Allied Workers Union (BFAWU) said the strike was being well supported. Members of other trade unions joined early-morning picket lines outside the two restaurants, while Labour leader Jeremy Corbyn offered his backing.
