Streetbeat News

Labor Issues

EWA

Australia's employment change for March reported a decrease of 6.6K, missing the estimated increase of 7.2K and marking a significant drop from the prior month's revised figure of 117.6K.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:59 am

AMZN

GOOG

GOOGL

Alphabet Inc's Google has fired 28 employees for protesting against its involvement in Project Nimbus, a $1.2 billion Israeli government cloud contract, also involving Amazon.com Inc. The protests, organized by the 'No Tech for Apartheid' group, took place in Google's New York and California offices, leading to the arrest and subsequent firing of the employees. Google's head of global security, Chris Rackow, emphasized the company's zero-tolerance policy towards such disruptive behavior.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 4:33 am

CBSTF

CRLBF

VRNOF

Unionized cannabis industry workers have resolved their labor conflict with Eaze/Stachs, reaching an agreement that improves pay, reimbursement for vehicle costs, work hours, and job protections. This settlement, recommended by UFCW locals 5, 135, 324, and 770, marks a significant advancement for labor rights within the cannabis sector. The resolution follows a nine-month dispute and a strike threat, highlighting the growing trend of unionization in the industry, with successful efforts at companies like Cannabist Company Holdings Inc (CBSTF), Cresco Labs (CRLBF), and Verano Holdings Corp (VRNOF).

Portfolio Pulse from Rolando García

April 18, 2024 | 12:18 am

IPI

Intrepid Potash has announced a temporary medical leave of absence for its Executive Chairman and CEO, Bob Jornayvaz, due to a previously announced injury. During his absence, CFO Matt Preston will serve as the acting principal executive officer. Additionally, co-founder Hugh Harvey rejoins the board as a Class III Director, and responsibilities of the Chairman have been temporarily delegated to Lead Director Barth Whitham.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 9:38 pm

PRAA

PRA Group, Inc. (NASDAQ:PRAA) has appointed Steve Macke as its global operations officer, effective April 29. Macke, with over three decades of experience in the consumer finance industry, primarily at Citigroup, will oversee PRA Group's call centers, legal recovery, digital, and insolvency operations. His role aims to enhance operational execution, efficiency, customer satisfaction, and employee engagement.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 8:13 pm

TSLA

Tesla plans to lay off 285 workers, with the layoffs expected to be effective starting July 15, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 7:39 pm

UBS

UBS is reportedly planning to cut over 100 jobs in its investment banking division. This move could reflect restructuring efforts or cost-cutting measures within the company.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 7:10 pm

RIVN

Rivian announced ongoing efforts to right-size the business and align with priorities, including further changes to teams supporting the business, following initial adjustments made in February.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:58 pm

SPY

X

President Biden is scheduled to deliver remarks at the United Steelworkers Headquarters in Pittsburgh on April 17, 2024. The event is expected to focus on labor issues, potentially impacting related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:32 pm

SPY

The Federal Reserve's Beige Book reported a slight overall increase in employment, with expectations that inflation would remain steady at a slow pace moving forward. This indicates a cautious but stable economic outlook.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:01 pm