April 23, 2012 |
The Philadelphia School District will massively restructure itself in the coming months, fundamentally altering the way it is organized and run - and possibly closing 40 low-performing, underused schools next year and shifting many more students to charters. The district faces a $218 million shortfall for the coming school year, more than previously stated and subject to rise if Mayor Nutter's proposed city tax plan does not materialize or if a recent charter school ruling is not altered.
June 27, 2012 |
As New Jersey legislators struggled Monday to concoct a politically palatable or perhaps magical mechanism to - affiliate? amalgamate? - Rutgers-Camden and Rowan University while "restructuring" higher education statewide, I called Bill Lutz. Who better to shed light on these murky machinations than the quotable author of Doublespeak and other books about the often opaque language of politics? "Their lack of clarity flows from a lack of clear thought," said Lutz, 71, a consultant who retired in 2005 after 35 years as a Rutgers-Camden professor of English.
July 7, 1987 |
Bell Atlantic is planning to restructure the organization of the company, adding two new senior officer positions and eliminating an undetermined number of jobs in its regulated telephone business, which employs about 5,000 in Philadelphia. Company spokesman Thomas Healey emphasized that no employees would be laid off, however. "It's been our policy to avoid layoffs," he said yesterday, "and that will continue to be our policy. "Clearly some people may be reassigned . . . But any reductions that will be necessary likely will be through attrition.
July 21, 1994 |
Ametek Inc., the Paoli maker of electric motors, instruments and industrial materials yesterday credited a financial restructuring launched last fall for a sharp rise in second-quarter earnings. Chairman Walter E. Blankley said the financial restructuring was designed to reduce the cash on Ametek's balance sheet. The company took on new debt, bought back stock and reduced its dividend from 68 cents a share per year to 24 cents for 1994. "We did all this without the company having its back against the wall," he said.
January 8, 1998 |
Chemical giant DuPont Co. is starting a new round of restructuring, including layoffs, aimed at shrinking corporate bureaucracy and making its business units more autonomous, chief executive Charles O. Holliday said yesterday. The new efforts will not be on the scale of the massive restructuring done in the early 1990s, when DuPont, based in Wilmington, reduced its staff by 35,000 to 100,000 and trimmed $3 billion in costs, Holliday said in interviews. But DuPont is attempting to improve efficiencies in an effort to meet its goal of 10 percent to 12 percent earnings growth a year despite an industry downturn.
November 14, 1992 |
Kulicke & Soffa Industries said yesterday it would restructure some of its overseas operations to cut costs and improve profitability. About 75 people, most of them in Israel, will lose their jobs. The Willow Grove electronics-products supplier employs 950. The reorganization will cost the company $4.1 million for severance pay and other costs. However, the company expects to realize savings of almost $3 million a year. Kulicke & Soffa's machine-building plant in Haifa, Israel, which had its own administrative staff and computer systems, will be turned into a satellite operation for the central Willow Grove factory.
October 3, 1995 |
Cigna Corp. yesterday said it would restructure its property and casualty unit and take an after-tax charge of $750 million against earnings in an attempt to put an end to longstanding problems with asbestos and environmental claims. As part of the restructuring, Cigna's property and casualty business will be split in two. One unit will handle the old asbestos and environmental claims, but it will sell no new insurance. The other unit will handle new property and casualty business.
October 9, 2001 |
The restructuring of Rohm & Haas Co. is "exactly where we thought it would be" at this point, according to Raj L. Gupta, its chairman and chief executive officer. The Philadelphia specialty-chemical company had announced a restructuring program in May that would cut up to 7 percent of its workforce, shift some production overseas, consolidate other operations, and eliminate some businesses that are not competitive The restructuring is being driven by changes in the marketplace, overcapacity in just about every one of Rohm & Haas' markets, and the company's goal of being a world leader in all of its businesses.
March 30, 1996 |
West Co. Inc. says it will close a plastics-manufacturing plant in central Pennsylvania and discharge some employees at its Chester County headquarters in a worldwide restructuring that will trim the workforce by 5 percent. In addition, the maker of health-care products and packaging for the pharmaceutical industry plans to sell its machinery-products division, located near its headquarters in Lionville. The restructuring, announced late Thursday, was detailed yesterday after officials met with shareholders and analysts in New York.