Daily Management Review
Management

Boeing 737 MAX Crisis: Company Removes Senior Executive

In what can be described as the most notable change in the management levels of the company, one of its top ranked executives was removed by the United States based aircraft maker Boeing in connection to the global grounding of its onetime cash cow the 737 Max planes following two fatal accidents...

HSBC to lay off up to 15 thousand employees

HSBC Bank's interim CEO, Noel Quinn, intends to significantly reduce the company's costs by cutting down up to 15 thousand employees. According to the Financial Times, in addition to the 4.7 thousand job cuts announced a few weeks ago, the British bank intends to dismiss another 10 thousand...

New ‘Shipping Finance’ Chairman Of Citigroup To Take Forward ‘Poseidon Principles’

Citigroup’s planned transition turns its focus on environmental commitments. Michael Parker, a “veteran shipping finance banker” of Citigroup gets appointed as the chairman of “shipping & logistics business” of the bank. As per Citi’s information, Parker’s responsibility will also include...

Study: US companies lose $ 223 billion due to toxic work environment

Staff turnover caused by tensions in the workplace has deprived US companies of nearly a quarter trillion dollars over the past five years, according to a study published by the Society for Human Resource Management (SHRM, Virginia). The study showed that staff turnover due to the "toxic"...

German Prosecutors Bring Market Manipulation Charges Against VW Top Executives

Charges of manipulating the market in connection to the diesel emissions scandal that had rocked the German auto giant Volkswagen have been brought against three current and former executives of the company.   According to the charges filed by German prosecutors, investors were not informed...

US largest labor union secures right to strike at General Motors, Ford, Chrysler

the largest U.S. worker unions, the United Automobile Workers (UAW), has been authorized by its members to go on strike during the upcoming negotiations on new labor contracts among the workers of three American automobile concerns - General Motors, Ford and Chrysler (part of Fiat Chrysler...

Jack Ma believes in possibility of switching to a 12-hour work week

Jack Ma, the billionaire and founder of Alibaba, said people could only work 12 hours a week thanks to artificial intelligence and educational reform. Ma made this statement during a speech at the World Conference on Artificial Intelligence in Shanghai. He believes that thanks to technological...

AMS Aims Mid-2020 For Completing Osram Takeover

AMS to hold shareholders’ meeting on Osram takeover. AMS is the “Austrian sensor specialist” which has a goal of wrapping up the “planned takeover” of Osram, a “German lighting group”, within the first six months of 2020, revealed its Chief Executive Officer.   Last week, a war over Osram...

Investment banks laid off 30 thousand employees since April 2019

Over the past few months, the largest investment banks in the United States and the EU announced a total dismissal of about 30 thousand employees amid falling trade volumes, costs optimizations, automation and actions of the authorities of developed countries. The bulk of the layoffs in the current...

Former HSBC chief pledges guilty in € 1.6 bln tax evasion

The Paris court fined € 500 thousand and sentenced to imprisonment for a term of one year Head of the Swiss HSBC affiliate for wealthy clients Peter Braunwalder. The court decision was made in January 2019, but was published only now. According to Bloomberg, referring to the court document, the...
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