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Dallas, Texas-based workplace problems management company, Work Shield recently announced that the close of its Series A financing led by Dallas-based Hoak & Co., in partnership with Jeff Estes and other strategic investors with significant insurance and benefits expertise. The company has raised about $4.11mn in funding and plans to use these funds to bolster…
US-based department store chain, Macy’s recently said that it will lay off about 3,900 employees in an attempt to save cash due to the weak demand caused by the coronavirus pandemic. The reported job cuts are likely to be from corporate and management positions. The company currently has a strong workforce of about 123,000 employees.…
Private equity firm Blackstone Group Inc recently announced that Alphabet Inc.’s Chief Financial Officer, Ruth Porat, will join the company’s board of directors. Porat would be the third female member on Blackstone’s board, along with former senator Kelly Ayotte and Rochelle Lazarus, Former Chief Executive Officer of Ogilvy & Mather Worldwide. Porat had joined the…
Advertising company Ogilvy recently announced the appointment of former Deloitte executive Andy Main as the company’s new Global Chief Executive Officer. Andy will succeed John Seifert, who announced his plans to step down in April after 41 years with Ogilvy. Andy, who will join Ogilvy at the end of July to begin the transition, was…
Australian flag carrier Qantas Airways Ltd is reportedly planning to lay off 20% of its employees and raise up to $1.3bn of equity under a cost-saving plan prompted by the coronavirus pandemic. The move is expected to affect about 6,000 employees of the airline’s 29,000 strong workforce. Around half of the job cuts will be…
Heritage hotel chain WelcomeHeritage recently announced the appointment of Abinash Manghani as the company’s new Chief Executive Officer. An industry expert, Manghani has a career spanning three decades. He has been associated with various companies in various roles, primarily in the Tourism, Hospitality & Real Estate advisory services.His last position was Area Manager & Head…
Indonesian super app Gojek recently announced that its video streaming platform, GoPlay has closed its first independent funding round. The round was led by ZWC Partners and Golden Gate Ventures. The funding round also saw participation from Openspace Ventures, Ideosource Entertainment, and Redbadge Pacific. With local shows and films attracting larger audiences in Indonesia, the…
Chinese-gaming giant Tencent recently announced that it has purchased the Malaysian video streaming platform Iflix’s “content, technology, and resources” in an attempt to grow its presence in Southeast Asia. In an official statement, the company said that Iflix’s catalogue of “international, local, and original content” would enable it to expand the reach of its overseas…
Dell Technologies recently announced that it has collaborated with the National Association of Software and Service Companies (NASSCOM) to help SMEs and Startups ensure smooth operations and maintain business continuity during the present challenging times. Positioned under NASSCOM’s SME Advantage program, this partnership intends to build a robust ecosystem to support them, by bringing together…
London-based commerce and subscriber management platform recently announced the appointment of Jonathan English as the company’s new Chief Executive Officer. Commenting on Jonathan’s appointment, Rob Amen, Managing Director at Vector Capital and a member of CloudSense’s board of directors said, “Jonathan is a seasoned technology executive with a track record of expanding market share in…
Internet domain registrar and web hosting company GoDaddy recently announced a restructuring exercise due to the impact of the coronavirus pandemic. The said restructuring plan is expected to affect about 12% of the company’s total workforce or more than 800 employees. The company said that the employees will either be let go or be moved…
Neobiotech company, Cyclica recently announced that it has raised CAD$23mn in Series B funding round. The funding round was led by Drive Capital with participation from Chiesi Farmaceutici, GreenSky Capital, and members of Cyclica’s management team. With the new funding, the company will support continued innovation around Cyclica’s integrated proteome-wide drug discovery platform, and will…
The founder and CEO of SoftBank Group Corporation, Masayoshi Son recently announced that he is stepping down from his board position at the Chinese e-commerce firm Alibaba. Announcing his decision, Son said that he’s “graduating” from his most successful investment by far. Son’s resignation comes just months after Alibaba Co-founder Jack Ma quit from SoftBank’s…
Amusement park company Six Flags Entertainment Corporation recently announced that it has appointed Sandeep Reddy as Executive Vice President and Chief Financial Officer effective July 1, 2020. In his new role, Reddy will lead all aspects of the company’s financial strategy and operations, including budgeting and planning, treasury, accounting, tax, financial reporting and investor relations.…
The Royal Bank of Scotland has initiated a major restructuring exercise in its overseas investment banking operations which might lead to massive layoffs. According to a Reuters report, the move is expected to affect about a quarter of RBS employees in the United St Citing sources from the bank, the report said that the lender…