Streetbeat News

Labor Issues

SAGE

Sage Therapeutics is reorganizing its business operations to support the launch of Zurzuvae for postpartum depression and focus on pipeline development for Dalzanemdor in Huntington's disease. The reorganization includes a workforce reduction of about 33%, impacting over 165 employees, and is expected to be completed by the end of Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:06 am

META

Meta Platforms Inc. has confirmed layoffs across Instagram, WhatsApp, and Reality Labs as part of a strategic resource reallocation. This move aligns with Meta's 'Year of Efficiency' initiative, aiming for more efficient operations. The layoffs come amid ongoing lawsuits and past workforce reductions.

Portfolio Pulse from Ananya Gairola

October 17, 2024 | 10:17 am

AAPL

Several top executives at Apple Inc. (NASDAQ:AAPL) are leaving the company, including HR Chief Carol Surface and CFO Luca Maestri. This follows a trend of executive departures at Apple, which has seen a dozen vice presidents leave in the past year. The stock closed at $231.78, down 0.89% for the day.

Portfolio Pulse from Kaustubh Bagalkote

October 17, 2024 | 6:43 am

PAL

Proficient Auto Logistics anticipates that a prolonged East Coast longshoremen strike could have negatively impacted their unit volumes during Q4 and beyond. However, the short duration of the work stoppage is expected to have a modest impact at most.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:21 pm

AAPL

Apple Inc.'s Chief People Officer is leaving the company after less than two years, marking a short tenure for a senior executive.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:08 pm

BA

Boeing shares are trading higher as the company plans to raise $15 billion through common stock and convertible bonds. The move aims to protect its credit rating amid high debt and ongoing cash burn. The timing of the raise may depend on resolving a labor strike and upcoming earnings.

Portfolio Pulse from Vaishali Prayag

October 16, 2024 | 8:02 pm

BA

UAL

United Airlines CEO expressed confidence that Boeing will not file for Chapter 11 bankruptcy. He acknowledged the impact of strikes on United's schedule but is optimistic about Boeing's long-term focus.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 3:41 pm

BA

EADSY

Boeing faces a prolonged strike by its workers demanding better wages and pensions, while Airbus plans to cut 2,500 jobs in its Defence & Space division due to financial setbacks. The aerospace industry is under pressure despite strong stock performance.

Portfolio Pulse from Pooja Rajkumari

October 16, 2024 | 11:35 am

STLA

Stellantis plans to expand Ram truck production in Mexico, potentially straining relations with the UAW. This move follows a recent labor agreement promising U.S. investments. The company faces challenges like a stock downgrade, a recall, and declining U.S. sales.

Portfolio Pulse from Benzinga Neuro

October 16, 2024 | 10:04 am

NCBDY

NTDOY

Bandai Namco Holdings ADR (OTC:NCBDY) is experiencing workforce challenges with 100 staff resignations amid project cancellations and financial losses. Despite these issues, the company saw success with its latest game, Dragon Ball Z: Sparking! Zero, selling over 3 million units in 24 hours.

Portfolio Pulse from Franca Quarneti

October 15, 2024 | 8:08 pm