In a significant blow to its financial outlook, Japanese cosmetics giant Shiseido has announced a drastic cut to its profit forecast for the year, highlighting the ongoing challenges it faces in the Chinese market. The latest reports reveal a staggering 26 percent decline in core operating profit for the first nine months of this year, […]
Report: Activist Investor Starboard Targets Neutrogena Owner Kenvue
In a significant development in the consumer products sector, hedge fund Starboard Value has acquired a stake in Kenvue, the parent company of well-known brands such as Band-Aid, Listerine, and Tylenol. This move comes at a challenging time for Kenvue, which has witnessed its stock price plummet by 18% since its IPO in May 2023. […]
CVS to Lay Off 2,900 Employees, Considering Company Breakup
In a significant restructuring move, CVS Health has announced its decision to lay off approximately 2,900 employees, a move that represents less than 1 percent of its total workforce. This strategic decision, unveiled on a recent Tuesday, is part of a broader initiative aimed at cost-cutting and operational efficiency. Importantly, CVS emphasized that these layoffs […]