Streetbeat News

Labor Issues

CRGX

CARGO Therapeutics has suspended the development of CRG-023 and its allogeneic platform, implementing a 90% workforce reduction to conserve cash. The company is exploring strategic options, including a reverse merger, with Anup Radhakrishnan as interim CEO.

Portfolio Pulse from

March 18, 2025 | 8:15 pm

SIEGY

Siemens, a German industrial giant, announced plans to cut over 6,000 jobs globally due to weak demand and rising competition in China and Germany.

Portfolio Pulse from

March 18, 2025 | 5:45 pm

SIEGY

Siemens is set to cut 5,600 jobs in its digital industries business due to lower demand, as part of a production capacity adjustment.

Portfolio Pulse from

March 18, 2025 | 3:00 pm

TCBP

TC BioPharm (NASDAQ: TCBP) is implementing outsourcing initiatives to reduce operational costs by 55% compared to 2024. The company is transitioning to a CDMO model to handle increased production demands, resulting in workforce reductions and a more agile organization.

Portfolio Pulse from

March 18, 2025 | 12:15 pm

TCBP

TC BioPharm (NASDAQ: TCBP) is implementing outsourcing initiatives to reduce operational costs by 55% compared to 2024. The company is transitioning to a CDMO model to handle increased production demands for future clinical trials, resulting in workforce reductions and a more agile organization.

Portfolio Pulse from

March 18, 2025 | 12:15 pm

PYXS

Pyxis Oncology reported positive preliminary data from a Phase 1 trial of MICVO, received FDA Fast Track Designation, and initiated new clinical trials. The company also streamlined operations, including a 20% workforce reduction, and expects a cash runway into 2H26.

Portfolio Pulse from

March 18, 2025 | 11:45 am

PYXS

Pyxis Oncology reported positive preliminary data from a Phase 1 trial of MICVO, a treatment for head and neck cancer, and received FDA Fast Track Designation. The company is focusing on MICVO's clinical program, including collaborations with Merck, and has streamlined operations to extend its cash runway into 2H26.

Portfolio Pulse from

March 18, 2025 | 11:45 am

FERG

Wolseley Canada has appointed Laureen Cushing as Vice President of Human Resources.

Portfolio Pulse from

March 18, 2025 | 11:30 am

CP

Canadian Pacific Kansas City (CPKC) has successfully ratified a new four-year collective bargaining agreement with the United Steelworkers (USW), covering approximately 600 clerical and intermodal employees in Canada. This agreement is the third reached this year, ensuring long-term labor stability, increased wages, and improved benefits for CPKC employees.

Portfolio Pulse from

March 18, 2025 | 11:30 am

TROX

Tronox Holdings plc (NYSE:TROX) plans to idle its TiO2 pigment plant in the Netherlands, affecting its asset footprint and updating its free cash flow guidance for the year.

Portfolio Pulse from

March 18, 2025 | 11:30 am