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Labor Issues

SKLZ

Skillz Inc. has announced that Jason Roswig will step down as CFO. Gaetano Franceschi has been appointed as the new CFO, according to an 8-K filing.

Portfolio Pulse from Charles Gross

January 09, 2024 | 11:33 am

VGK

The Eurozone unemployment rate for November came in at 6.4%, which is lower than the estimated 6.5% and also below the prior rate of 6.5%.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:01 am

OVLY

Oak Valley Community Bank, a subsidiary of Oak Valley Bancorp (NASDAQ:OVLY), has announced the promotion of Jeff Gall to Executive Vice President, Chief Financial Officer. Additionally, Kim Booke and Theresa Roland have been promoted to Executive Vice President, Chief Risk Officer, and Executive Vice President, Chief Human Resources Officer, respectively.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 6:23 am

AAL

16,000 passenger service workers at American Airlines, represented by CWA-IBT, ratified a five-year agreement with an average initial wage increase of 20%. This contract comes after a period where many workers did not receive pay raises for four years, despite American Airlines being one of the largest U.S. airlines.

Portfolio Pulse from Charles Gross

January 08, 2024 | 11:51 pm

U

Unity Software announced plans to cut around 1,800 employee roles, which is about 25% of its workforce, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:49 pm

ENVB

Enveric Biosciences announced a reduction in force (RIF) that will lead to the termination of seven positions, which is 50% of its workforce, as per a recent filing. The company anticipates incurring about $40,000 in costs related to severance and transition support, which will be recognized in Q1 2024. The RIF is expected to be substantially completed by February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:46 pm

U

Unity Software has announced plans to cut around 1,800 jobs, which is about 25% of its workforce, according to a recent filing. The company has not yet estimated the costs associated with this reduction, but expects that the majority of the charges will be incurred in Q1 2024, mainly due to employee transition, severance payments, and benefits.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:35 pm

U

Unity Software has announced plans to cut approximately 1,800 jobs, which is about 25% of its workforce. This significant reduction is part of a restructuring effort to streamline operations and reduce costs.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:34 pm

SPY

Fed's Bowman commented on the labor market's supply and demand reaching a better balance but noted that upside risks to inflation persist, including geopolitical factors and easing financial conditions. She emphasized a cautious approach to any changes in the Fed's policy rate.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:34 pm

MXL

MaxLinear announced a workforce reduction that will lead to an estimated $30M-$40M in restructuring costs in 2024. This move is likely part of a cost-cutting strategy to improve financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:31 pm