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Labor Issues

BZFD

BuzzFeed has announced a strategic restructuring plan which includes reducing its workforce by 16%. This move is aimed at streamlining operations and improving financial health. The company's decision reflects its efforts to adapt to the changing media landscape and economic challenges.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:34 pm

F

GM

STLA

The United Auto Workers (UAW) has announced a significant $40 million commitment to organizing efforts for auto and battery workers over the next two years, as reported by Reuters. This move signals a strong push towards unionization in sectors critical to the future of transportation and energy storage.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 7:29 pm

PYPL

SQ

Block Inc (NYSE:SQ) is anticipated to report Q4 earnings with expected revenue of $5.70 billion and EPS of 59 cents, surpassing last year's figures. Analysts have upgraded ratings and price targets, citing potential profitability improvements and the Rule of 40 as key factors. The report follows PayPal's (NASDAQ:PYPL) results, with Block's layoffs and Cash App's regulatory scrutiny also in focus.

Portfolio Pulse from Chris Katje

February 21, 2024 | 6:48 pm

F

Ford and the United Auto Workers (UAW) have tentatively agreed on a new local contract, avoiding a potential strike at the Kentucky Truck Plant. This agreement is crucial for maintaining the plant's operations and avoiding disruptions in Ford's production capabilities.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:45 pm

QDEL

QuidelOrtho's Board of Directors has terminated Douglas Bryant from his roles as President and CEO. Michael Iskra has been appointed as interim CEO, and Robert Bujarski as President.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 12:46 pm

MINM

Minim has entered into an employment agreement with David Lazar to serve as CEO and CFO, following the resignation of Jeremy Hitchcock. This change in leadership was officially announced on February 20 and documented in an 8-K filing.

Portfolio Pulse from Charles Gross

February 21, 2024 | 12:45 pm

MUSA

Murphy USA announced organizational changes, including the appointment of Mindy West as Executive Vice President and COO, a newly created position. Mindy West previously served as EVP and CFO since the 2013 spin and took on fuel activities responsibilities in 2018. Galagher Jeff has been hired as the new EVP and CFO, joining from Dollar Tree where he held multiple roles including SVP FP&A, Treasurer, and Chief Transformation Officer. Chris Click has been promoted to EVP Strategy, Growth and Innovation, expanding his responsibilities to include Asset Development and Digital Transformation.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 11:04 am

PLNT

Christopher Rondeau resigned from the Planet Fitness Board due to disagreements over job cuts, the role of the interim CEO, and the Board's decision-making process. The company had terminated about 9% of its headquarters employees in February 2024 following Rondeau's departure as CEO in September 2023.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 10:59 pm

GTN

Gray Television Inc. (GTN) announced CFO Jim Ryan's decision to retire after 2025, with Jeff Gignac, currently at Wells Fargo Securities, set to succeed him. Gignac will join Gray as Executive Vice President, Finance, in April 2024, and become CFO in July 2024. Ryan, who joined Gray in 1998, played a key role in the company's growth and acquisitions. Gignac, with a 20-year career at Wells Fargo and expertise in finance within the TMT industries, is expected to lead Gray's finance functions towards further growth and balance sheet management.

Portfolio Pulse from Happy Mohamed

February 20, 2024 | 9:56 pm

ARVN

Arvinas, Inc. (NASDAQ:ARVN) announced a CFO transition with Sean Cassidy leaving on February 29, 2024, and Randy Teel, Ph.D., taking over as interim CFO. Cassidy's departure comes after over a decade with Arvinas, a biotech firm focusing on targeted protein degradation. The company is conducting a search for Cassidy's permanent replacement. Arvinas has four clinical trial programs and expects its financial resources to support operations into 2027.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:44 pm