Other

Novartis announces 2,000 job losses, profits up

Swiss pharmaceutical giant Novartis announced 2,000 job losses Tuesday, mostly in Switzerland and the United States, while reporting net profits of $3.53 billion (2.5 billion euros) for the third quarter.

Psychology & Psychiatry

Streamlining cognitive behavioral therapy for chronic insomnia

A combination of cognitive and behavioral strategies, ideally delivered in person by a therapist, maximizes the benefits of cognitive behavioral therapy for insomnia (CBT-I), according to new research. CBT-I is a form of ...

Medications

Teva Pharma plans to cut about 5,000 employees (Update)

Teva Pharmaceutical Industries Ltd. plans to cut about 5,000 employees mostly by the end of next year as part of a restructuring designed to slim the drugmaker's business and make it more efficient.

Medical research

A microscopic look at aneurysm repair

Hitting a pothole on the road in just the wrong way might create a bulge on the tire, a weakened spot that will almost certainly lead to an eventual flat tire. But what if that tire could immediately begin reknitting its ...

Pediatrics

Intervention for NICU moms reduces their trauma, anxiety

(HealthDay)—An intervention aimed at reducing parental trauma and redefining the parental experience for those with very premature newborns is both feasible and cost-effective, according to a study published online Sept. ...

Other

Drugmaker GSK reveals lower profits, restructuring

British drugs firm GlaxoSmithKline on Wednesday unveiled a 13-percent drop in annual net profits and outlined a plan for more restructuring in Europe to deliver greater savings and offset weaker sales across the region.

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Restructuring

Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. Alternate reasons for restructuring include a change of ownership or ownership structure, demerger, or a response to a crisis or major change in the business such as bankruptcy, repositioning, or buyout. Restructuring may also be described as corporate restructuring, debt restructuring and financial restructuring.

In education, Restructuring (education) refers a requirement in the No Child Left Behind act of 2001, which requires schools identified as chronically failing for 5 years or more to undertake rapid changes that affect how the school is led and instruction delivered.

Executives involved in restructuring often hire financial and legal advisors to assist in the transaction details and negotiation. It may also be done by a new CEO hired specifically to make the difficult and controversial decisions required to save or reposition the company. It generally involves financing debt, selling portions of the company to investors, and reorganizing or reducing operations.

The basic nature of restructuring is a zero sum game. Strategic restructuring reduces financial losses, simultaneously reducing tensions between debt and equity holders to facilitate a prompt resolution of a distressed situation.

Steps:

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