Streetbeat News

Labor Issues

BA

Boeing faced significant challenges in 2023, including a strike that led to a multi-year low in deliveries. Despite this, Boeing secured $5 billion in airplane orders in October, indicating potential recovery.

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November 18, 2024 | 12:45 pm

GM

General Motors (GM) plans to lay off 1,000 white-collar employees due to expensive labor contracts, declining electric vehicle sales, and the impact of artificial intelligence.

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November 18, 2024 | 12:00 pm

HSBC

HSBC Holdings Plc is undergoing a restructuring under CEO Georges Elhedery, requiring hundreds of managers to reapply for positions in the new corporate and institutional banking division. This move aims to enhance efficiency by merging the commercial banking and global banking units.

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November 18, 2024 | 11:00 am

FEEXF

Ferrexpo PLC, a Ukrainian iron ore producer, has increased its output despite a significant number of its staff joining Ukraine's armed forces. The company has lost 44 employees in the conflict, and 709 are currently serving. This announcement led to a 5% drop in its share price.

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November 18, 2024 | 9:15 am

BA

Boeing Co (NYSE:BA) is set to lay off 438 union members as part of a broader plan to cut 17,000 jobs, or 10% of its workforce. This move is in response to financial challenges, regulatory restrictions, and the impact of a recent machinists' strike.

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November 18, 2024 | 8:15 am

HNHPF

Foxconn, an Apple supplier, has instructed its recruitment agents in India to remove age, gender, marital status, and the manufacturer's name from job advertisements for iPhone assembly workers.

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November 18, 2024 | 4:15 am

TECK

Teck Resources Limited has been recognized as one of Canada's Top 100 Employers for the eighth consecutive year, highlighting its exceptional human resource programs and innovative workplace policies.

Portfolio Pulse from

November 15, 2024 | 11:45 pm

XOM

Exxon Mobil (XOM) has announced plans to restructure its workforce and implement cost-saving measures following its acquisition of Pioneer Natural Resources.

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November 15, 2024 | 9:00 pm

GM

General Motors (GM) is cutting 1,000 white-collar jobs as part of a cost-cutting strategy to focus on its top priorities, including the transition to electric vehicles. This move reflects the challenges automakers face in adapting to the EV market.

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November 15, 2024 | 7:00 pm

GM

General Motors is laying off nearly 1,000 workers in the U.S. as part of a cost-cutting strategy, following a previous reduction of 1,000 software jobs three months ago.

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November 15, 2024 | 4:30 pm