Streetbeat News

Labor Issues

VWAGY

Volkswagen board members are advocating for additional cuts beyond those agreed with unions last year, as concerns rise about the effectiveness of these measures in revitalizing the company's core brand.

Portfolio Pulse from

January 30, 2025 | 7:30 am

AMZN

Amazon is laying off a small number of employees in its communications department, as reported by Bloomberg. This move is part of a broader trend of workforce reductions within the company.

Portfolio Pulse from

January 29, 2025 | 11:45 pm

CRGX

CARGO Therapeutics has decided to discontinue its Phase 2 clinical study of firicabtagene autoleucel (firi-cel) due to unsatisfactory results. The company will also reduce its workforce by about 50% while advancing other programs and evaluating strategic options.

Portfolio Pulse from

January 29, 2025 | 9:15 pm

AMZN

Amazon is laying off a small number of employees in its communications and sustainability units, following larger layoffs in 2022 and 2023.

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January 29, 2025 | 8:30 pm

BA

Boeing's recent earnings guidance reveals a quarterly revenue of $15 billion but a negative $3.5 billion in operating cash flow due to work stoppages. Despite these short-term challenges, Boeing's $26 billion in cash and marketable securities supports its long-term growth potential.

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January 29, 2025 | 8:00 pm

TSCDY

Tesco PLC plans to cut 400 jobs across various departments to streamline operations amid rising competition in the grocery sector.

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January 29, 2025 | 2:30 pm

AKZOY

Akzo Nobel plans to cut 2,200 jobs and close at least five more sites by 2025 as part of its restructuring efforts.

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January 29, 2025 | 11:45 am

KSS

Kohl's has announced a reduction of nearly 10% of its corporate workforce to enhance profitability.

Portfolio Pulse from

January 28, 2025 | 11:00 pm

CP

Canadian Pacific Kansas City (CPKC) has reached a tentative four-year collective agreement with the Teamsters Canada Rail Conference Maintenance of Way Employees Division (TCRC-MWED), representing engineering service employees in Canada. This agreement is seen as beneficial for the employees and their families.

Portfolio Pulse from

January 28, 2025 | 9:15 pm

BA

Boeing reported a significant Q4 loss with revenues down over 30% and losses per share worse than expected. Operational issues, including a worker strike, have impacted production and profitability, leading to cash burn and a weakened balance sheet. Despite a positive industry outlook, Boeing's high valuation and ongoing problems make it an unattractive investment.

Portfolio Pulse from

January 28, 2025 | 7:45 pm