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Corporate Strategy/Planning

Armstrong Flooring Files for Bankruptcy as Higher Costs Outpace Ability to Raise Prices

Helen Gray 0
Business
Armstrong Flooring Inc., a publicly traded manufacturer founded in 1860, has filed for bankruptcy, saying it couldn’t raise prices enough to counter supply-chain disruptions and higher costs for materials and transportation. The Lancaster, Pa.-based company, along with subsidiaries AFI Licensing LLC, Armstrong Flooring Latin America Inc. and Armstrong Flooring Canada Ltd., filed for chapter 11 protection Sunday in the U.S. Bankruptcy Court in Wilmington, Del. In November, Armstrong warned about…

Activist Investor Third Point Continues Push for Shell to Restructure

Helen Gray 0
Business
Activist hedge fund Third Point LLC told clients it has increased its stake in Shell SHEL -3.24% PLC and is still pushing the oil giant to restructure, six months after calling for a breakup of the company. Daniel Loeb’s New York-based hedge fund took a $750 million stake in Shell last year as of the third quarter, and called on it to separate into multiple companies—one focused on legacy businesses such…

Facebook Parent Meta Hits the Brakes on Hiring as Growth Stalls

Ann Roberts 0
Technology
Facebook parent Meta Platforms on Wednesday announced a sharp slowdown in hiring, ending an extended period in which the tech giant added thousands of jobs a year.“We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly,” a Meta spokesperson said in a statement. “However, we will continue to grow our workforce to ensure we focus on long term impact.” Facebook parent Meta Platformson Wednesday…