Restructuring
Ubisoft restructuring sparks strikes and game cancellations
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Ubisoft's recent company-wide reset has led to the cancellation of six games, studio closures, and a proposed 200 voluntary redundancies in France, prompting unions to vote for strikes. The move includes the scrapping of the long-delayed Prince of Persia: The Sands of Time remake and a price increase for the Just Dance+ service. Shares fell 34 percent, marking the company's lowest value in 15 years.
France's Health Ministry announced on Friday the transfer of several missions from Santé publique France to central administration, sparking emotion, anger, and concern within the agency. The restructuring aims to boost reactivity to health crises and clarify public messages. The agency, pivotal during the Covid-19 pandemic, will see its strategic stock management and communication campaigns refocused on the ministry.
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Ethiopia has reached an agreement in principle with the key bondholders committee to restructure $1 billion in bond debt. This deal aligns with its program with the International Monetary Fund. The agreement supports sustainable debt management.
Accenture reported fourth-quarter revenue that exceeded analyst estimates, driven by strong demand for its digital and cloud services, while announcing a significant restructuring plan amid a shift towards AI technologies. The company plans to incur $865 million in charges for the overhaul, aimed at streamlining operations and boosting efficiency. This move reflects broader industry trends as consulting firms adapt to rapid technological advancements.