Streetbeat News

Labor Issues

MCD

McDonald's executive has stated that the wage increases in California will 'certainly be a hit in the short term to franchisee cash flow'.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 1:50 pm

AMZN

Teamsters at an Amazon warehouse in Brooklyn have gone on strike, according to Reuters. The impact on Amazon's operations is not yet clear.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 12:41 pm

AAPL

AMZN

META

MSFT

NFLX

ORCL

TSLA

Big tech companies are in high demand in the job market, with seven out of the top ten companies being tech firms, according to a survey by Resume.io. Netflix, Apple, and Tesla are among the top companies, despite a shaky tech sector and significant layoffs in 2022. The survey highlights the fierce competition for jobs at these companies due to their reputation and growth prospects.

Portfolio Pulse from Rounak Jain

October 30, 2023 | 11:39 am

ALV

Autoliv, Inc. (NYSE:ALV) plans to reduce its workforce in France by about 20% or 320 employees as part of its global headcount reduction initiative. The reductions will begin in 2024 and are expected to be fully implemented by the end of 2025. The company expects to save around $10 million in 2024, $20 million in 2025, and $25 million in 2026 from these actions. The related costs for the headcount reduction will be accrued this quarter but will not impact the company's adjusted operating margin for the fourth quarter or the full year 2023.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 10:49 am

CLDI

Calidi Biotherapeutics has announced that it has entered into an employment agreement with Andrew Jackson, who will serve as the company's CFO effective from October 30.

Portfolio Pulse from Charles Gross

October 30, 2023 | 10:37 am

CVS

WBA

Thousands of pharmacists are planning a walkout starting Monday, affecting major pharmacy chains including CVS, Walgreens, and Rite Aid. This could potentially disrupt operations and customer service.

Portfolio Pulse from Charles Gross

October 30, 2023 | 9:14 am

EWD

TSLA

A planned strike by Tesla's workers in Sweden failed to materialize as the workers refused to walk out. The news was reported by Teslarati.

Portfolio Pulse from Charles Gross

October 30, 2023 | 8:51 am

STLA

Canadian workers’ union Unifor has initiated a strike at Stellantis NV facilities due to a failure to reach an agreement on better pay and pensions. The union represents over 8,200 workers at Stellantis across multiple plants and distribution centres. The union had previously set a deadline for a strike unless Stellantis agreed to follow the pattern agreement already in place with Ford and General Motors.

Portfolio Pulse from Anan Ashraf

October 30, 2023 | 7:04 am

STLA

The United Auto Workers Union (UAW) announced that its members from General Motors Co's (NYSE:GM) Spring Hill Manufacturing in Tennessee have joined the ongoing strike for better pay and other amenities. This comes after UAW reached a tentative agreement with both Ford Motor Co (NYSE:F) and Stellantis NV (NYSE:STLA) last week. GM is the only one of the Detroit three who hasn’t reached an agreement with the union as of now. The company estimates the weekly cost of the union dispute to be $400 million.

Portfolio Pulse from Anan Ashraf

October 30, 2023 | 5:51 am

STLA

The United Auto Workers (UAW) union has approved a tentative agreement with Ford Motor (NYSE:F) involving $8.1 billion in new plant investments and a $5,000 ratification bonus. The agreement, which will be presented to 57,000 UAW-Ford members for voting, also includes a 25% wage increase over the next few years. Despite the record deal, it fell short of some of the UAW’s initial goals.

Portfolio Pulse from Benzinga Neuro

October 30, 2023 | 2:38 am