Streetbeat News

Labor Issues

AMZN

GOOGL

Google has reassured its employees that it will not adopt Amazon's strict return-to-office policy, maintaining a flexible hybrid work model. This comes after Amazon's decision to require full-time office presence, which has caused unrest among its employees.

Portfolio Pulse from Benzinga Neuro

October 03, 2024 | 6:23 am

AMZN

The National Labor Relations Board (NLRB) has issued a formal complaint against Amazon, asserting that the company is a joint employer of its Delivery Service Partner drivers. This means Amazon has a legal obligation to recognize and negotiate with the Teamsters Union.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 8:30 pm

AZO

DHI

LEN

ORLY

STZ

The International Longshoremen's Association strike could lead to supply constraints and price increases in the food and beverage, automotive, and construction sectors. Companies like Constellation Brands, AutoZone, O'Reilly Automotive, DR Horton, and Lennar may face operational disruptions.

Portfolio Pulse from Aaron Bry

October 02, 2024 | 6:15 pm

SPY

Fed's Barkin is monitoring the impact of lower interest rates on home and auto sales, and the potential for demand to outpace supply. He notes that a 'low-hiring, low-firing' labor market could persist, but demand for workers might increase if demand grows. Recent labor actions and geopolitical conflicts are also seen as inflation risks. The Fed needs to be attentive to the economy and inflation as it considers the pace and extent of rate reductions.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 4:08 pm

AMZN

Over 100 Amazon warehouse workers at the DCK6 warehouse in San Francisco have joined the Teamsters union, demanding Amazon recognize their union and negotiate a contract.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 3:38 pm

YYGH

YY Group Holding is expanding into the UK market with its interactive job-matching platform, YY Circle. This move targets the hospitality, retail, and service sectors, which are facing labor shortages and operational challenges.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 10:16 am

AAPL

The National Labor Relations Board (NLRB) has filed a complaint against Apple Inc. for allegedly forcing employees to sign illegal agreements and excessively enforcing policies. A hearing is set for January. This comes amid growing unionization efforts within Apple's retail stores.

Portfolio Pulse from Rounak Jain

October 02, 2024 | 8:59 am

CAG

LEVI

LW

NKE

RPM

U.S. stock futures are trading lower, with key stocks to watch including Conagra Brands, Lamb Weston, RPM International, Nike, and Levi Strauss. Conagra is expected to report earnings of 60 cents per share, while Lamb Weston reported better-than-expected earnings but announced workforce cuts. RPM International is expected to post earnings of $1.75 per share. Nike reported better-than-expected earnings but missed sales estimates, leading to a 5.9% drop in after-hours trading. Levi Strauss is expected to post earnings of 31 cents per share.

Portfolio Pulse from Avi Kapoor

October 02, 2024 | 6:56 am

BA

Senator Bernie Sanders criticized Boeing for its handling of a workers' strike, using it to advocate for Medicare for All. The strike involves 33,000 workers who lost healthcare benefits. Boeing is considering issuing new stock to raise $10 billion due to the financial impact of the strike.

Portfolio Pulse from Shivdeep Dhaliwal

October 02, 2024 | 4:41 am

SSP

E.W. Scripps is winding down its Scripps News 24/7 national network programming after November 15, resulting in over 200 job cuts. The network will continue on streaming and digital platforms. Kate O’Brian, President of Scripps News, will leave the company at year-end.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 9:45 pm