Streetbeat News

Labor Issues

F

GM

STLA

Over 5,000 workers at the Mercedes-Benz plant in Alabama began voting on unionization with the UAW amid a strong anti-union campaign. Alabama politicians and anti-union videos have been pressuring workers to vote against joining the UAW. This vote follows unsuccessful attempts to unionize at Mercedes in Alabama and comes after the UAW's efforts to unionize at major U.S. auto manufacturers Ford (F), General Motors (GM), and Stellantis (STLA) last year.

Portfolio Pulse from Aaron Bry

May 13, 2024 | 6:57 pm

CBSTF

84 workers at a Nabis warehouse in California, including drivers and warehouse workers, have voted to join Teamsters Local 630. This move is part of a broader trend of cannabis industry workers unionizing, with Nabis employees being the third group to join Teamsters in three weeks. The unionization efforts aim to ensure job stability and fair compensation in the rapidly growing cannabis sector. The Teamsters have been actively organizing workers across the cannabis industry, with recent unionization efforts at companies like Cresco Labs in Illinois and Verano Holdings Corp in Chicago.

Portfolio Pulse from Nina Zdinjak

May 13, 2024 | 6:08 pm

TSLA

Tesla has rehired some of the Supercharger workers it dismissed last month, including Max De Zegher, the Charging Director for North America, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 4:07 pm

INTC

Kevin O'Buckley has been appointed as the new senior vice president and general manager of Foundry Services at Intel Corporation, taking over from Stuart Pann who retires at the end of May. O'Buckley, now part of Intel's executive leadership, will report directly to CEO Pat Gelsinger and oversee the company's systems foundry growth strategy.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:16 pm

MSFT

Xbox President Sarah Bond discussed the closure of four Microsoft studios, emphasizing the necessity for the long-term health of the Xbox business. The closures are part of a broader strategy to navigate industry transitions, despite the gaming community's shock and concerns over stagnant growth and rising development costs. Microsoft's recent acquisitions and the challenges facing its gaming business, including declining revenue and stagnant subscriber growth, underscore the strategic decisions behind studio closures.

Portfolio Pulse from Franca Quarneti

May 13, 2024 | 2:12 pm

SO

Peter P. Sena III has been elected as the new chairman and CEO of Southern Nuclear, succeeding Stephen Kuczynski upon his retirement on June 28, 2024. This leadership change was announced by Southern Company.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:39 pm

BITF

Bitfarms has announced the termination of CEO Geoffrey Morphy and is nearing the completion of its search for a new CEO. The company, which is listed on both the NASDAQ and TSX under the symbols BITF and TSX:BITF respectively, is in the process of leadership transition.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:02 am

MITK

Mitek Systems, Inc. announced Scott Carter as Interim CEO starting June 1, 2024, succeeding Max Carnecchia. The Board is searching for a permanent CEO replacement.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:32 am

ZPTA

Zapata Computing Holdings Inc. (NASDAQ:ZPTA), an Industrial Generative AI company, announced Sumit Kapur as the new CFO effective May 20, 2024. Kapur, with a background in AI, investment banking, and scaling businesses, is expected to support Zapata AI's expansion across various industries. He succeeds Mimi Flanagan, who is leaving for personal reasons. Kapur's previous role was CFO at 3Degrees, where he significantly scaled the business.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:17 am

AAPL

Apple Inc. (AAPL) store employees in Maryland have voted to strike over working conditions, while a New Jersey store voted against unionization. The Maryland store's union, IAM CORE, cites issues like work-life balance and wages. Apple emphasizes its commitment to employee benefits and respectful engagement with the union.

Portfolio Pulse from Ananya Gairola

May 13, 2024 | 7:02 am