The restructuring closes three breweries and aims for $20 million in annual savings by fiscal 2028

Spar exits Hervis ownership as new owners Sven Voth and Udo Schloemer plan a major restructuring and network reduction across Austria.

The 1858 Sonoma winery said its tasting room will stay open during restructuring, which could cost the family its majority stake.

IG Design Group Americas files for Chapter 11 bankruptcy amid economic pressures and the closure of Joann stores.

P3 Panels president says the company isn’t going bankrupt — it’s restructuring to recover from cash flow issues and secure new investment for fu

(Reuters) -Anglo-Australian miner Rio Tinto said on Wednesday that it will streamline operations into three business units, Iron Ore, Aluminium & Lithium, and Copper, with Matthew Holcz appointed to lead the consolidated iron ore division. The move comes as CEO Simon Trott seeks to simplify the miner’s structure and sharpen focus on its most profitable assets. Holcz was named chief executive of the unified iron ore division, integrating Rio Tinto’s Western Australian operations with Canada’s iron ore operations and Guinea’s Simandou project upon completion. The Aluminium & Lithium unit, to be led by Jérôme Pécresse, will combine Atlantic and Pacific aluminium operations with the company’s recently acquired Arcadium Lithium business, while Katie Jackson continues to head the Copper division focused on Oyu Tolgoi’s ramp-up process. Outside the three core units, Rio Tinto’s Borates and Iron & Titanium businesses will be transferred to the chief commercial officer’s portfolio for strategic review, with further updates on their future to be provided in due course. Kaufman will be leaving Rio Tinto at the end of October after almost 30 years with the company, Rio added. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. That's one option, but what if there are better opportunities hiding in plain sight? Investing.com's ProPicks AI has identified growth stocks that often get overlooked by individual investors. Compare your choice against our global range of AI-selected picks - with 3 out of 4 beating their benchmark index year to date and 98% in the green. Get fresh new picks every month, now available at 50% off while our Summer Sale lasts. Hurry, offer ends soon!

By Casey Hall SHANGHAI (Reuters) - Danish jewellery maker Pandora (OTC:PNDRY) is exploring ways to restructure its business in China, said two people familiar with the matter, after years of plunging sales both online and off. The world’s largest jeweller by volume of pieces sold is in discussion with China-based funds and e-commerce partners to potentially license its brand and all of its assets, including existing inventory, for five years, said one of the people. Pandora, like many consumer-facing multinational companies operating in the world’s second-largest economy after the U.S., has been hit hard by post-pandemic consumer malaise, exacerbated by a property crisis that has rippled through the economy. It has also had to contend with competition from local, digital-savvy brands in a crowded e-commerce space as well as a shift in consumer preference to gold and high-value jewellery. Pandora, in a statement to Reuters, said it recognised the need to reposition its brand in China and was working on a turnaround, saying "it will take time". It did not address specific questions about possible restructuring in the country. "China is the biggest jewellery market in the world, and we remain fully committed to the business there," Pandora said. Pandora’s China revenue tumbled nearly 80% to 416 million Danish crowns ($65.10 million) in 2024 from 1.97 billion crowns in 2019, with the country’s revenue contribution slumping to around 1% from 11% over that period, exchange filings showed. The China business has had three chiefs since 2022. Current managing director Thomas Knudsen started in January, soon after which Pandora said it would close 50 China stores this year. Finding a stakeholder or licence partner could be "difficult" given the trends in performance and broader consumer headwind, said Jonathan Yan, a principal at consultancy Roland Berger in Shanghai. "I don’t think financial investors are going to be interested in this asset," Yan said. E-commerce partner firms looking into higher-margin brand ownership "may be interested". A model for such a deal could be the sale of U.S. apparel retailer Gap’s China business to Baozun (NASDAQ:BZUN), one of China’s biggest e-commerce partner firms, for $40 million to $50 million in 2022. Reuters was not able to determine the value for the potential Pandora deal. Pandora’s e-commerce business has seen sales slide more dramatically than at physical stores, said a person with knowledge of its China business, who was not authorised to speak to media on the matter so declined to be identified. A takeover by an operator who knows how to compete in Chinese e-commerce would therefore be positive though any turnaround will be costly to whoever foots the bill, said Yan. "They will need to burn money and have a very innovative, approach, and even then it won’t be easy," he said. ($1 = 6.3902 Danish crowns)

Microsoft recently announced the dismissal of 4,800 employees. However, this initial wave merely serves as a prelude. It does not represent the final headcount reduction. Microsoft plans to eliminate approximately 20% of its Xbox gaming division workforce. They intend to achieve this before the 2027 fiscal year concludes next July. Therefore, the gaming division will inevitably announce further personnel reductions soon.