Streetbeat News

Labor Issues

AONC

American Oncology Network (AON) announced CFO Dave Gould will step down on May 17, 2024. David Afshar is appointed as interim CFO starting May 20, 2024. AON is initiating a search for a new CFO. Afshar brings over 25 years of experience in healthcare services, including roles in companies with revenues ranging from $300 million to over $1.8 billion. CEO Todd Schonherz thanked Gould for his contributions, especially in helping AON become a public company, and expressed confidence in the company's strategic plans and growth opportunities.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:37 pm

PAVS

Paranovus Entertainment announced significant executive changes: Ling Guo has been appointed as CFO, while Xuezhu Wang resigned as CEO and Chairperson. Xiaoyue Zhang steps in as the new CEO. These changes could signal strategic shifts or operational adjustments within the company.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:41 pm

PAVS

Sophie Ye Tao, CFO of Paranovus Entertainment Technology, announced her resignation on April 29. The company, possibly referred to by its ticker PAVS, may face financial scrutiny following this high-level departure.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:38 pm

LPTV

Loop Media has undertaken an operational and cost-cutting review, resulting in the layoff or furlough of 9 full-time employees since March 31. The company is considering more furloughs and terminations in the near term. It has also implemented temporary salary reductions, with the senior executive team taking an additional 20% salary cut.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:37 pm

BKKT

Bakkt Holdings has announced a workforce reduction expected to lead to the termination of 28 employees, about 13% of its non-call center, full-time workforce.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:34 pm

LAZR

Luminar Technologies, Inc. (LAZR) announced a workforce reduction, leading to a decrease in its stock price.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:33 pm

LAZR

Luminar announced a workforce reduction of approximately 20% as part of its 2024 restructuring plan, aiming to reduce operating costs by $50M-$65M annually. Additionally, the company is undertaking further cost-saving measures outside of this plan, as disclosed in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:33 pm

WHR

Whirlpool initiated a global workforce reduction plan on Apr. 29, expecting to incur $75M-$80M in restructuring charges for FY 2024, including $63M-$67M in employee termination costs and $13M in other costs.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:21 pm

MMAT

Meta Materials is exploring various strategic alternatives, including asset divestiture and others. The company anticipates incurring approximately $2.3 million in charges related to workforce reduction.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:18 pm

AAPL

BTCUSD

TSLA

The stock market responded positively as Fed Chair Jerome Powell indicated no immediate interest rate hikes, aiming for a 2% inflation target. The labor market showed signs of cooling in April, with a slowdown in job creation and a rise in unemployment. Apple Inc. announced a record $110-billion stock buyback, while nearly 80% of S&P 500 companies reporting so far have exceeded earnings expectations. Goldman Sachs cautioned investors about Tesla Inc.'s self-driving technology, and Treasury Secretary Janet Yellen discussed challenges for first-time homebuyers. Robert Kiyosaki expressed confidence in Bitcoin amidst market downturns.

Portfolio Pulse from Piero Cingari

May 03, 2024 | 8:15 pm