Streetbeat News

Labor Issues

AGMH

Steven Yuan Ning Sim has resigned as CFO of AGM Group Holdings (AGMH) effective December 13, 2023, citing personal reasons, according to a filing. AGMH will begin searching for a new CFO to take over Sim's responsibilities.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:38 pm

EOG

EOG Resources has announced the appointment of Jeffrey Leitzell as Executive Vice President and COO effective December 18, 2023, and Ann Janssen as Executive Vice President and CFO effective January 1, 2024. These executive changes may influence the company's strategic direction and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:33 pm

CCI

Crown Castle has canceled its previously announced plan to relocate around 1,000 employee positions to a centralized location, as per a recent filing.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:24 pm

LNW

Light & Wonder, Inc. (LNW) has officially appointed Oliver Chow as the company's Executive Vice President, Chief Financial Officer, and Treasurer. Chow has been serving as the Interim CFO since August 2023 and has over 15 years of experience in entertainment and gaming, with previous senior finance roles at Aristocrat and other companies. CEO Matt Wilson expressed confidence in Chow's abilities and experience. Chow is committed to supporting the company's growth and financial strategy.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:13 pm

NVTA

Invitae Corporation has sold the assets of Ciitizen and announced strategic cost-cutting measures, including workforce reductions and other operating expense reductions. These initiatives, along with the Ciitizen transaction, are expected to yield annualized cash savings of around $90-100 million, not accounting for one-time severance payments.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:10 pm

VIR

Vir Biotechnology announced a workforce reduction of about 12% and plans to consolidate its geographic footprint. The company expects to save at least $40M annually from these cost optimization efforts.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:09 pm

SPY

Fed Chair Powell commented on the labor market, noting that wages are slightly above the level consistent with a 2% inflation target. He acknowledged the extremely low unemployment rate but viewed the overall labor market development as positive.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:58 pm

SPY

Fed Chair Powell has indicated that labor demands are still outstripping supply, but policymakers anticipate a continued rebalancing of the labor market. This expected easing of the labor market is projected to exert downward pressure on prices.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:36 pm

XOM

Exxon Mobil Corporation (NYSE:XOM) has introduced a new compensation policy for its traders, offering cash bonuses to a specific group of risk-taking traders. This change is a significant departure from the company's previous practice of providing regular salaries with modest stock awards. The cash bonuses will be awarded based on company results, global trading results, and individual performance, and are set to be distributed from December 2024. The move aims to attract and retain talented employees and aligns with industry standards for performance-linked compensation.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 6:56 pm

ETSY

Etsy shares are trading lower following the announcement of a restructuring plan that involves an 11% reduction in the Etsy marketplace workforce.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:15 pm