Restructuring
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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
- Friday December 20, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
- www.gadgets360.com
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WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
- Tuesday December 10, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
- www.gadgets360.com
-
Ola Electric To Lay Off 500 Employees Amid Losses: Report
- Friday November 22, 2024
- India News | IANS
Ola Electric, mired in controversies amid a government probe and mounting losses, is set to lay off at least 500 employees as part of a restructuring exercise.
- www.ndtv.com
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WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
- Thursday November 7, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
- www.gadgets360.com
-
Freshworks Announces 13% Workforce Reduction In Strategic Restructuring
- Thursday November 7, 2024
- World News | Edited by NDTV News Desk
Dennis Woodside, CEO of Freshworks, announced the company's decision to reduce its workforce by 13 per cent, impacting around 660 employees.
- www.ndtv.com
-
Meta Lays Off Employees Across Units, At WhatsApp And Instagram: Report
- Thursday October 17, 2024
- World News | Reuters
Meta is laying off employees across units including Instagram, WhatsApp and Reality Labs, the Verge reported on Wednesday, citing people familiar with the matter.
- www.ndtv.com
-
WazirX to Form Committee of Creditors by October 9 Amidst Restructuring Plans
- Thursday October 3, 2024
- Written by Radhika Parashar, Edited by David Delima
WazirX has announced that it is in the process of forming a ‘Committee of Creditors (COC)’. In a blog post published on October 2, WazirX claimed that it aims to bridge the communication gap with its creditors.
- www.gadgets360.com
-
SoftBank to Invest $500 Million in OpenAI: Report
- Tuesday October 1, 2024
- Reuters
OpenAI's latest funding round has attracted Japanese telecom company SoftBank's Vision Fund, that will invest $500 million (roughly Rs. 4,190 crore) in the AI firm. The deal represents SoftBank's first investment in the Sam Altman-led firm.
- www.gadgets360.com
-
OpenAI CEO Sam Altman Denies Executives' Departure Linked to Restructuring
- Friday September 27, 2024
- Reuters
Sam Altman denied on Thursday that there was any link between the departure of three senior OpenAI executives and a planned restructuring of the company. Speaking on stage at the Italian Tech Week conference in Turin, OpenAI CEO Altman said that "some stuff" reported around the executives' departures was inaccurate, adding that the personnel change...
- www.gadgets360.com
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WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
- Thursday September 26, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
- www.gadgets360.com
-
OpenAI Said to Be Working to Remove Non-Profit Control and Give Sam Altman Equity
- Thursday September 26, 2024
- Reuters
OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation. Chief executive Sam Altman will also receive equity for the first time in the for-profit company, which could be worth $150 billion (roughly Rs. 12,55,438 crore) after the restructuring as it also tries to remove the cap on returns for investors, sou...
- www.gadgets360.com
-
OpenAI's Technology Chief Mira Murati, Two Other Research Executives to Leave Company
- Thursday September 26, 2024
- Reuters
Three top technical leaders at Microsoft-backed OpenAI quit on Wednesday. Chief Technology Officer Mira Murati, VP Research Barret Zoph and Chief Research Officer Bob McGrew all announced their departures via X on Wednesday afternoon.
- www.gadgets360.com
-
WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
- Wednesday August 28, 2024
- Written by Radhika Parashar, Edited by David Delima
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
- www.gadgets360.com
-
GoPro to Cut 15 Percent of Workforce in Restructuring Push
- Tuesday August 20, 2024
- Reuters
GoPro has decided to cut about 15 percent of its workforce this year, as part of a restructuring plan to reduce operating expenses. The company expects to take charges in the range of $5 million (roughly Rs. 41.8 lakh) to $7 million (roughly Rs. 58.6 lakh) for the restructuring plan,
- www.gadgets360.com
-
Intel Shareholders Sue Chipmaker After Job, Dividend Cuts Cause Stock Plunge
- Thursday August 8, 2024
- Reuters
The lawsuit came after Intel said last Thursday it would lay off more than 15 percent of its workforce, or more than 15,000 jobs, and suspend its dividend starting in the fourth quarter as part of a restructuring meant to save $10 billion (roughly Rs. 83,976 crore) in 2025.
- www.gadgets360.com
-
WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
- Friday December 20, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
- www.gadgets360.com
-
WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
- Tuesday December 10, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
- www.gadgets360.com
-
Ola Electric To Lay Off 500 Employees Amid Losses: Report
- Friday November 22, 2024
- India News | IANS
Ola Electric, mired in controversies amid a government probe and mounting losses, is set to lay off at least 500 employees as part of a restructuring exercise.
- www.ndtv.com
-
WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
- Thursday November 7, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
- www.gadgets360.com
-
Freshworks Announces 13% Workforce Reduction In Strategic Restructuring
- Thursday November 7, 2024
- World News | Edited by NDTV News Desk
Dennis Woodside, CEO of Freshworks, announced the company's decision to reduce its workforce by 13 per cent, impacting around 660 employees.
- www.ndtv.com
-
Meta Lays Off Employees Across Units, At WhatsApp And Instagram: Report
- Thursday October 17, 2024
- World News | Reuters
Meta is laying off employees across units including Instagram, WhatsApp and Reality Labs, the Verge reported on Wednesday, citing people familiar with the matter.
- www.ndtv.com
-
WazirX to Form Committee of Creditors by October 9 Amidst Restructuring Plans
- Thursday October 3, 2024
- Written by Radhika Parashar, Edited by David Delima
WazirX has announced that it is in the process of forming a ‘Committee of Creditors (COC)’. In a blog post published on October 2, WazirX claimed that it aims to bridge the communication gap with its creditors.
- www.gadgets360.com
-
SoftBank to Invest $500 Million in OpenAI: Report
- Tuesday October 1, 2024
- Reuters
OpenAI's latest funding round has attracted Japanese telecom company SoftBank's Vision Fund, that will invest $500 million (roughly Rs. 4,190 crore) in the AI firm. The deal represents SoftBank's first investment in the Sam Altman-led firm.
- www.gadgets360.com
-
OpenAI CEO Sam Altman Denies Executives' Departure Linked to Restructuring
- Friday September 27, 2024
- Reuters
Sam Altman denied on Thursday that there was any link between the departure of three senior OpenAI executives and a planned restructuring of the company. Speaking on stage at the Italian Tech Week conference in Turin, OpenAI CEO Altman said that "some stuff" reported around the executives' departures was inaccurate, adding that the personnel change...
- www.gadgets360.com
-
WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
- Thursday September 26, 2024
- Written by Radhika Parashar, Edited by Siddharth Suvarna
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
- www.gadgets360.com
-
OpenAI Said to Be Working to Remove Non-Profit Control and Give Sam Altman Equity
- Thursday September 26, 2024
- Reuters
OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation. Chief executive Sam Altman will also receive equity for the first time in the for-profit company, which could be worth $150 billion (roughly Rs. 12,55,438 crore) after the restructuring as it also tries to remove the cap on returns for investors, sou...
- www.gadgets360.com
-
OpenAI's Technology Chief Mira Murati, Two Other Research Executives to Leave Company
- Thursday September 26, 2024
- Reuters
Three top technical leaders at Microsoft-backed OpenAI quit on Wednesday. Chief Technology Officer Mira Murati, VP Research Barret Zoph and Chief Research Officer Bob McGrew all announced their departures via X on Wednesday afternoon.
- www.gadgets360.com
-
WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
- Wednesday August 28, 2024
- Written by Radhika Parashar, Edited by David Delima
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
- www.gadgets360.com
-
GoPro to Cut 15 Percent of Workforce in Restructuring Push
- Tuesday August 20, 2024
- Reuters
GoPro has decided to cut about 15 percent of its workforce this year, as part of a restructuring plan to reduce operating expenses. The company expects to take charges in the range of $5 million (roughly Rs. 41.8 lakh) to $7 million (roughly Rs. 58.6 lakh) for the restructuring plan,
- www.gadgets360.com
-
Intel Shareholders Sue Chipmaker After Job, Dividend Cuts Cause Stock Plunge
- Thursday August 8, 2024
- Reuters
The lawsuit came after Intel said last Thursday it would lay off more than 15 percent of its workforce, or more than 15,000 jobs, and suspend its dividend starting in the fourth quarter as part of a restructuring meant to save $10 billion (roughly Rs. 83,976 crore) in 2025.
- www.gadgets360.com