The Strategist
Companies & CEOs

T-Mobile and AT&T began massive layoffs - 06/22/2020

US telecom operator T-Mobile US began to cut jobs faster than planned after closing a merger with rival Sprint Corp. T-Mobile said it plans to spend about $ 300 million more than originally expected on transaction costs, mainly related to the payment of termination benefits. The company did not specify how many people would be downsized. At the end of 2019, the company was employing 53,000...

Fiat Chrysler to receive € 6.3B assistance from Italian government - 06/22/2020

According to Reuters, the Italian-American automaker Fiat Chrysler has reached an agreement with the government on a loan in the amount of € 6.3 billion. This will be the largest loan issued to any of the automakers in Europe since the beginning of the pandemic and guaranteed by the government. As previously reported, the Italian government was ready to guarantee the carmaker a loan for three...

Apple to transfer iPhone SE assembly to India - 06/19/2020

The American company Apple plans to assemble the second generation of iPhone SE smartphones in India, Apple Insider said. iPhone SE is the most budget model in the current line of Apple smartphones. According to the publication, Apple asked one of its suppliers in China to arrange the delivery of iPhone SE parts to India. The country already has the necessary capacity for assembly, since the...

Google increases assistance to public organizations to $1B - 06/18/2020

Google has offered additional $ 200 million in grants for nonprofits. Thus, the company is increasing its obligation to pay up to $ 1 billion, reports CNBC. Google supports organizations that help combat COVID-19 and racial injustice. Previously, the company provided $ 800 million each year. Google is also adding new features to its platforms, such as a tool that allows users to search and book...

IKEA sets to return state aid received during the pandemic - 06/15/2020

The Swedish IKEA hypermarket chain has begun negotiations with several governments to return state aid allocated to the company as a support measure in the context of the COVID-19 coronavirus pandemic, the Financial Times (FT) reported. The company explained its decision by saying that the consequences of the temporary closure of its stores were not so catastrophic. “Now the most appropriate...

Lufthansa to downsize up to 26,000 employees - 06/12/2020

German aircraft company Deutsche Lufthansa plans to downsize up to 26,000 jobs due to a sharp decline in air traffic amid a pandemic. The company is trying to negotiate with unions on ways to reduce staff costs before an extraordinary general meeting of shareholders, which will discuss a plan to save the group. The carrier predicts a slow recovery in demand in the aviation industry and expects...

UK Mulberry to cut 25% of staff worldwide due to COVID-19 - 06/09/2020

Mulberry, a British manufacturer of luxury handbags, accessories and clothing, plans to cut about 25% of its employees worldwide because of the negative impact of the novel coronavirus pandemic, the company said. As noted, the company staff consists of 1,400 employees. Mulberry explains the downsizing by the decline in sales due to the coronavirus pandemic. Also, according to the manufacturer of...

Lufthansa leaves top 30 of German stock exchange for the first time in 30 years - 06/05/2020

For the first time in several decades, the German airline Lufthansa left the main index of the Frankfurt Stock Exchange DAX, follows from the data of Deutsche Boerse AG. The stock exchange covers the 30 largest joint-stock companies in Germany. Earlier, airline management cited a possibility of bankruptcy in the wake of the COVID-19 coronavirus pandemic. “Deutsche Wohnen SE shares will be...

Warner Music holds the largest IPO in USA since beginning of 2020 - 06/04/2020

Warner Music record company raised nearly $ 2 billion during the IPO. The initial offering has become the largest in the US market since the beginning of the year. Warner Music, owned by billionaire Leonard Blavatnik, has carried out an initial public offering on Nasdaq, according to the exchange’s website. The company announced an initial public offering of 77 million ordinary Class A shares at...

Moody's keeps negative ratings for Volkswagen, Daimler, BMW - 06/03/2020

The international rating agency Moody's Investors Service (Moody's) has retained ratings of German concerns Volkswagen Aktiengesellschaft (VW), Daimler AG and Bayerische Motoren Werke Aktiengesellschaft (BMW), the agency said. Long-term issuer ratings of VW and Daimler were kept at “A3”, BMW at “A2”, forecasts for all ratings were negative. The ratings also went out of the list for review with...
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