Tata Steel Ltd., one of the largest steel producers in the world, has announced plans to cut approximately 1,600 jobs in the Netherlands. This move is part of a strategy to optimize costs and finance the transition to more environmentally friendly steel production. The decision is influenced by changes in the economic landscape in Europe and several global factors pressuring the demand for steel products.
Porsche, the renowned luxury automaker, announced on Wednesday its decision to maintain dividends for 2024 at the previous year’s level despite a notable decline in net profit by 30.4%, as reported by Reuters. The company faces significant operational cost pressures and decreased demand in the Chinese market.
Recently, Societe Generale SA, one of France's largest banks, has taken significant steps to reduce expenses and increase profitability. The focus on its digital retail division, BoursoBank, indicates that the strategy for developing retail banking is at the forefront of the bank's priorities.
