Citing an article from the Financial Times, Reuters reported the cost-cutting plan stemmed from interim CEO Noel Quinn, who was selected for the position after the unexpected departure of former CEO John Flint in August.
Reuters added the workforce reduction comes on the heels of a gloomier-than-expected outlook for the company as the trade war between the U.S. and China drags on.
Equipment leasing and financing companies play a vital role in the U.S. economy by providing businesses of all sizes with much-needed financing options for acquisitions of equipment used in their business operations. As the COVID-19 pandemic has effectively shut down... read more
When the COVID shutdown began, most lenders issued moratoriums on repossession activity and began issuing payment deferrals to customers on a large scale. Several states also issued executive orders reducing or eliminating a lender’s ability to enforce their security interests... read more