Streetbeat News

Labor Issues

CMPS

Compass Pathways has delayed the topline data readout for its COMP005 Phase 3 trial for COMP360 in treatment-resistant depression to Q2 2025 and the COMP006 data to the second half of 2026. The company is cutting its workforce by 30% to focus on the COMP360 program.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 10:46 am

SQ

Block Inc. CEO Jack Dorsey announced layoffs at Tidal, aiming to streamline the company to operate like a startup. This move comes amid Block's strategic focus on cryptocurrency and follows Ark Invest's recent sale of Block shares.

Portfolio Pulse from Benzinga Neuro

October 31, 2024 | 8:47 am

ADN

Advent Technologies has announced significant leadership changes, removing Chairman and CEO Vasilis Gregoriou and Chief Strategy Officer Chris Kaskavelis. Konstantinos Ferderigos has been appointed as General Manager for Greek Operations.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 10:12 pm

SAVE

Spirit Airlines plans to furlough approximately 330 pilots effective January 31, 2025, as announced by a company spokesperson.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 9:22 pm

GPRO

GoPro shares are declining following the announcement of a restructuring plan that includes a 26% reduction in its workforce.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 7:21 pm

SPY

A White House official highlighted the need to lower key costs while acknowledging progress in the economy. The official expects lower payroll numbers this week due to hurricanes and strikes but emphasized the resilience of the labor market.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 1:48 pm

DBX

Dropbox has announced a reduction in its workforce by approximately 20% as part of its strategy to streamline team structure and align with long-term growth and profitability objectives. This move was disclosed in a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 1:08 pm

SPY

The number of jobs added in September was revised upwards from 143,000 to 159,000, indicating a stronger labor market than initially reported.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 12:16 pm

CMG

Chipotle Mexican Grill (NYSE:CMG) is using an AI tool to reduce hiring time by 75% during peak periods, boosting staffing levels. Despite a 13% revenue increase in Q3, results fell short of expectations, leading to a 5.27% drop in after-hours trading.

Portfolio Pulse from Ananya Gairola

October 30, 2024 | 2:01 am

BA

Three Republican governors are urging Boeing and the union to resume negotiations to end the machinists' strike. Boeing has informed suppliers of an extended halt on most shipments for its 737, 767, and 777 programs due to the strike.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:50 pm