Procter & Gamble Co. $PG announced plans to reduce up to 7,000 office jobs over the next two years as part of a broader strategy to streamline operations and boost labor productivity. The planned cuts will affect approximately 15% of the current non-production workforce. No specifics regarding the locations of these job reductions have been disclosed, providing minimal operational transparency at this stage.
Toyota Group’s decision to privatize Toyota Industries Corp. $6201.T has triggered significant discontent across the investment community. The proposed buyout, valued at 4.7 trillion JPY (33 billion USD), entails a tender price of 16,300 JPY per share. This offer represents an 11% discount to the manufacturer's share price at Tuesday’s close, a rare occurrence in large-scale take-private deals. Toyota Industries, known for textile machinery, material handling equipment, and automotive components, stands as a central figure within the broader Toyota ecosystem.
Huawei Technologies Co., a dominant force in telecommunications and consumer electronics, along with its automotive project partner Anhui Jianghuai Automobile Group Corp. $600418.SS, have redefined the country’s luxury car landscape with the unveiling of the Maextro S800. Priced at 1.02 million yuan (approximately USD 141,637) for its highest-end version, the Maextro S800 directly targets clientele traditionally served by Mercedes-Benz $MBGYY and Bentley.