Streetbeat News

Labor Issues

AMZN

Amazon Inc. (NASDAQ:AMZN) is refocusing its gaming strategy to prioritize delivering free games through Prime Gaming, resulting in the elimination of over 180 jobs and the shutdown of Crown Channel and Game Growth initiatives. The company is also concentrating on upcoming game launches such as 'Throne and Liberty' and 'Blue Protocol', as well as future projects like 'Tomb Raider' and 'The Lord of the Rings' games. This follows previous layoffs in the video-game division and broader company layoffs due to slow online sales growth and recession concerns.

Portfolio Pulse from Ananya Gairola

November 14, 2023 | 4:24 am

THRX

Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) announced a significant workforce reduction of approximately 72% as part of a strategic process to maximize shareholder value. This process may include the sale of company assets, a sale of the company, a merger, or other strategic actions. Despite the reduction, the company reported having $225.4 million in cash, cash equivalents, and marketable securities as of September 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:33 pm

EXPR

Express Inc's CFO, Jason Judd, has resigned effective November 17, as per an SEC filing on November 6.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:26 pm

NUVB

Nuvation Bio Inc. announced the resignation of CFO Jennifer Fox, effective November 27, 2023. Fox is leaving to gain experience with later stage development and commercial launches. The company's executive management and finance team will cover her duties. CEO David Hung expressed gratitude for Fox's contributions to the company.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:19 pm

FSR

Fisker is concentrating on increasing its delivery numbers and is actively hiring 20 to 30 people weekly, as stated in their recent conference call.

Portfolio Pulse from Charles Gross

November 13, 2023 | 10:12 pm

VTLE

Vital Energy has promoted Katie Hill to the position of Senior Vice President and Chief Operating Officer (COO), with the promotion effective from November 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:39 pm

EGLX

Enthusiast Gaming has appointed Felicia Dellafortuna as its new CFO, effective November 14, replacing Alex Macdonald.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:35 pm

STLA

Stellantis, the parent company of Chrysler and brands like Jeep, Ram, and Dodge, is set to offer voluntary buyout packages to U.S. salaried workers with at least five years of experience. This move is part of cost-cutting efforts as the automaker faces a costly shift to electric vehicles and anticipates higher labor costs from an upcoming union contract. The announcement was made by COO Mark Stewart in an all-hands meeting.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 8:30 pm

AMZN

Amazon.com Inc. has laid off approximately 180 employees from its Games division, marking the second round of job cuts in less than a week. This move is part of a larger restructuring effort, which also included recent layoffs in Amazon's Music streaming unit.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 5:55 pm

RACE

Ferrari plans to hire 250 new employees in the first half of 2024 and launch a broad-based share ownership plan for its 5,000+ employees, starting in Italy. The plan includes a one-off grant of shares and additional shares after 36 months. Ferrari also renewed its Competitiveness Award agreement, allowing employees to convert part of the award into company shares. The company is committed to sustainability by including an ESG indicator in the award calculation. Additionally, Ferrari is expanding its health and parenting support initiatives, including free annual medical check-ups and extended support for parents.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 5:51 pm