Mercedes-Benz has disclosed plans to merge its vehicle sales and financial services into a single entity by the end of the year. A key element of this restructuring is the planned merger of Mercedes-Benz Mobility AG into Mercedes-Benz AG, which is set to take place on 31 December 2025, pending necessary regulatory approvals. Certain essential functions of the financial services sector will continue to be managed under the Mercedes-Benz Financial Services unit to adhere to regulatory standards. Franz Rei ...

NBC News has started the process of laying off staffers from its London bureau — the latest sign that the restructuring before its divorce from sister cable channels MSNBC and CNBC is moving apace, according to a report.The Peacock Network’s news division has initiated a so-called “consultation phase” — a legally mandated procedure in the UK that is required before a company can cut staff, according to the Status newsletter.The move, a first step toward eventually laying off employees, is being widely inter ...

By Trixie Yap SINGAPORE (Reuters) -Exxon Mobil Corp expects to cut staff numbers in Singapore by 10% to 15% and move its office to its Jurong plant on the island by the end of 2027, the company said on Wednesday, in a global restructuring effort. The steps come after the U.S. major unveiled plans on Tuesday to lay off 2,000 workers globally, particularly in Canada and across the European Union, as part of long-term restructuring that will affect about 3% to 4% of its workforce. "We are making changes to ...

Tata Motors has fixed Tuesday, October 14, as the record date to determine the eligibility of shareholders who will receive equity shares of Those holding The demerger is part of a broader corporate restructuring initiative that involves TMPV ceased to exist as a separate entity with effect from October 1, 2025, following regulatory approvals.Live EventsThe scheme for Tata Motors' demerger was approved by the National Company Law Tribunal (NCLT), Mumbai Bench, and became effective after the company filed t ...

Oil giant Exxon Mobil is preparing to cut thousands of jobs worldwide in a corporate reshuffling. A spokesperson for Exxon confirmed to Barron’s on Tuesday that the company plans to cut 2,000 jobs, representing 3% to 4% of the energy company’s global workforce.The news was first reported by Bloomberg, which said that Exxon sent a memo to employees noting the company is consolidating smaller offices into regional hubs as part of a long-term restructuring plan. INVESTORS FEAR BIG OIL COULD CUT SHARE BUYBACKS ...

On September 25, Starbucks CEO Brian Niccol informed his employees in a public memo that the company would be cutting 900 corporate roles and closing down stores. Most Read from Fast Company However, the memo didn’t share exactly how many stores would close and where they’re located—leaving employees scrambling to compile that information on their own. Starbucks is framing the restructuring as a part of Niccol’s broader “Back to Starbucks” plan, a sweeping initiative designed to return Starbucks to its ...

Wolfspeed (WOLF) shares remained in focus on Friday as the semiconductor company announced plans of shifting its incorporation from North Carolina to Delaware by Sept. 29. The announcement, part of a broader restructuring effort, arrives as the silicon carbide and gallium nitride specialist continues to operate under Chapter 11 bankruptcy protection. More News from Barchart WOLF stock has been losing ground in recent weeks. At the time of writing, its down roughly 60% versus its 1-month high set on Sept ...

Tata Motors Limited (TML) on Friday said that the National Company Law Tribunal (NCLT) has sanctioned its Composite Scheme of Arrangement involving the demerger of its commercial vehicles business and the amalgamation of its passenger vehicles vertical. Most of the restructuring, which has been under consideration for over a year, will take effect from October 1.The company in a stock filing informed cessation of Independent Directors including Hanne Sorensen as a Non-Executive Independent Director from the ...

Starbucks (SBUX) announced plans to close unprofitable locations and cut corporate jobs as CEO Brian Niccol focuses on the company's turnaround plan. In a letter posted to its blog and sent to employees on Thursday, Niccol shared that the company plans to eliminate 900 non-retail roles and close open positions as part of a $1 billion restructuring effort. The memo said employees will be notified on Friday, Sept. 26, and will offer "severance and support packages including benefits extensions." "We will c ...

This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Nissan Motor Co. is continuing to shake up its global leadership as part of an overall effort to quickly turn around the financially struggling automaker, according to a Sept. 18 press release.   Massimiliano (Max) Messina, vice chairperson and SVP, chief finance, administration and strategy, for Nissan’s Africa, Middle East, India, Europe and Oceania region (A ...