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Labor Issues

LHX

U.S. defense contractor L3Harris plans to cut 5% of its workforce this year as a cost-saving measure, according to an email obtained by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:56 pm

TSLA

Tesla has terminated 6,020 employees across all its factories today, impacting its workforce significantly. This move could have various implications for the company's operations and financial performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:51 pm

GM

The United Auto Workers (UAW) announced that Aramark workers, servicing General Motors (GM), will receive retroactive back pay from March 15, the day the previous contract expired. Additionally, the UAW successfully negotiated a reduction in the time required for Aramark workers at GM facilities to reach the top wage rate, marking a significant gain for sanitation workers.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:49 pm

TSLA

Tesla plans to terminate a total of 3,332 employees across four locations in California, including Fremont, Palo Alto, Lathrop, and Burbank, as reported by Reuters citing WARN notices.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:48 pm

GM

The United Auto Workers (UAW) announced a historic tentative agreement for General Motors Aramark workers, which includes raises of up to 43% over the three-year term of the proposed deal. This agreement is seen as a significant win for sanitation workers, setting a new standard in the industry.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:45 pm

SBUX

The U.S. Supreme Court showed sympathy towards Starbucks' challenge against a judicial order to rehire Tennessee workers who were seeking to form a union, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 4:35 pm

TSLA

Tesla plans to lay off 2,688 employees at its Texas factory, according to a WARN notice cited by Reuters. This move could indicate operational adjustments or cost-cutting measures by the electric vehicle manufacturer.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 3:19 pm

SBUX

The U.S. Supreme Court is set to hear a case from Starbucks Corp. (NASDAQ:SBUX) challenging the National Labor Relations Board's decision to reinstate baristas fired for union organizing. The case, stemming from a 2022 incident involving the firing of seven baristas in Memphis, could significantly impact labor organizing nationwide. This follows a series of labor disputes at Starbucks, including a notable strike and ongoing negotiations with the Workers United union representing thousands of Starbucks employees.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 2:22 pm

TSLA

Tesla plans to reduce its workforce in Germany by 400 positions through a voluntary program, aiming to avoid forced layoffs. This move is part of Tesla's broader strategy to optimize operations and reduce costs.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 1:55 pm

SCWO

374water has announced the immediate appointment of Chris Gannon as its new President and CEO. This strategic leadership change aims to drive the company's growth and innovation in its operations.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 12:28 pm