European Press Roundup: Former CEO McDermott Is Leaving SAP Earlier Than Expected
November 19 2019 - 8:11AM
Dow Jones News
In Europe today, U.K. budget airline EasyJet reported tumbling
profits, while new-car registrations in the European Union rose in
October. Read about the above topics on Dow Jones Newswires or
WSJ.com.
In Other Media...
Former Chief Executive of SAP Bill McDermott is leaving the
software giant earlier than anticipated. The manager, who is going
to be joining IT company ServiceNow, was to continue his work as
adviser until the end of the year, following his resignation as CEO
in October. However, his contract has been terminated with
immediate effect. The company said this happened in mutual
agreement, not mentioning a reason. -Handelsblatt
German car maker Opel is reducing its workforce of 2,000
employees at a plant in the Polish city Gliwice by 800. The company
has been producing its Opel Astra model at the site but is moving
the production to Germany. While it will produce other vehicle
types at the site in Poland, it will do so via a newly founded
subsidiary that intends to employ only a fraction of the current
employees and on the basis of new employment contracts with less
favorable conditions. -Handelsblatt
The British government will pay for senior doctors' taxes in
order to ensure hospitals are not understaffed over the busy winter
period. The measure is a response to a pay structure that
incentivized senior doctors to not work overtime. -The Times of
London
The Volkswagen Group has been sued by its U.S. supplier Prevent
Group for $750 million in damages. Prevent accuses the car maker of
using unfair means to deter larger suppliers in the USA from taking
over smaller companies. -Manager Magazin
Telefonica will convene its board next week for a deep strategic
review. The company's board members will meet in Barcelona for two
days, on Nov. 26 and 27, to review the strategy with the aim of
reviving the stock. The board may discuss potential divestment and
share buybacks. -El Confidencial
France loses EUR4.6 billion a year in taxes due to the
tax-avoidance strategies of multinational companies, according to
the French council of economic analysis. -Les Echos
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(END) Dow Jones Newswires
November 19, 2019 07:56 ET (12:56 GMT)
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