Streetbeat News

Labor Issues

AAP

Advance Auto Parts has appointed Ryan Grimsland as its new Executive Vice President & CFO, effective November 27, 2023. He will be taking over from interim CFO Tony Iskander.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 11:50 am

AMZN

Amazon Inc. (NASDAQ:AMZN) has linked promotion eligibility to compliance with its return-to-office (RTO) policy, requiring employees to be in the office at least three days a week. Non-compliance will necessitate vice presidential approval for promotions, indicating a stricter enforcement of the RTO mandate. This move is part of Amazon's ongoing efforts to manage its workforce's return to the office, which has been met with some employee resistance since its introduction in February.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 10:11 am

FXI

The Chinese unemployment rate for October remained steady at 5%, aligning with the market estimates.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:53 am

BCEL

Atreca, Inc. has announced a 40% reduction in its workforce as part of a strategic move to explore various strategic alternatives. This decision is aimed at reducing operating costs and extending the company's cash runway. The company is considering multiple options, including the sale of the company, mergers, partnerships, or other transactions that could enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:44 pm

NMTC

NeuroOne Medical Technologies Corporation has appointed Christopher R. Volker as its new Chief Operating Officer (COO).

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:22 pm

LOB

Live Oak Bancshares has announced leadership changes with Walter J. Phifer set to become CFO effective January 1, 2024. Neil L. Underwood is stepping down as President, and William C. (BJ) Losch III will take on the role of President of Live Oak Bancshares while continuing as President of Live Oak Bank. Losch will step down as CFO at the end of the year.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:14 pm

TFC

Truist Financial has established a new Chief Operating Officer position, appointing Vice Chair Beau Cummins to the role effective immediately.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:53 pm

SPY

Fed's Goolsbee expressed that the March bank failures initially suggested a potential credit crunch, but this did not occur. He also noted that commercial real estate is still an area of concern and that the labor force participation rate has rebounded more than anticipated.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:28 pm

F

GM

SPY

STLA

Fed's Goolsbee commented that auto strikes, historically, do not impact the national economy significantly. He mentioned that the current UAW strike is not causing widespread economic ripples. However, he also noted that if the deal is not approved and the strike resumes and widens, there would be a need to reassess the situation.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:18 pm

PFE

Pfizer Inc (NYSE:PFE) is cutting 500 jobs at its Sandwich, Kent facility as part of a global cost-cutting initiative due to lower-than-expected COVID-19 vaccine and treatment sales. The pharmaceutical sciences small molecule operations will be discontinued, affecting primarily scientist roles and some administrative positions. The company plans to relocate these roles to other sites in Chennai, India, and Connecticut, US. Despite the job cuts, Pfizer's Q3 sales slumped 42%, and further details on the cost-cutting measures will be shared in the coming months.

Portfolio Pulse from Vandana Singh

November 14, 2023 | 5:15 pm