Streetbeat News

Labor Issues

TSLA

Tesla Inc's CEO, Elon Musk, revealed that he no longer has a desk at the company's headquarters in Texas, instead using a room for meetings that overlooks the Model Y end of line. Musk is known for his hands-on leadership style, often moving his desk to wherever the biggest problem was in the factory. However, following the COVID-19 pandemic, Musk has taken a firm stance on remote work, stating that employees who believe working from the office is old-fashioned should 'pretend to work somewhere else.'

Portfolio Pulse from Anan Ashraf

August 24, 2023 | 4:21 am

GM

General Motors (GM) has announced plans to cut 940 jobs and cease its information technology operations in Arizona in October, according to Reuters.

Portfolio Pulse from Charles Gross

August 23, 2023 | 9:55 pm

TSE

Trinseo has approved a restructuring plan to optimize its PMMA sheet network, primarily in Europe, and consolidate manufacturing operations. The plan includes the closure of certain plants and product lines, including operations in Denmark, New Mexico, and Italy, and workforce reductions to streamline the company's internal general & administrative network.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:52 pm

GRPH

Graphite Bio has announced a reduction in its workforce by approximately 70% and is exploring strategic alternatives. Additionally, Josh Lehrer has departed as CEO effective as of August 21, 2023, according to a filing.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:35 pm

BL

BlackLine is planning to reduce its global workforce by approximately 9.0%, or 166 total employee positions, according to a recent filing. The company estimates that it will incur expenses of up to $9.0 million, primarily for severance and other termination benefits.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:08 pm

MRTX

Mirati Therapeutics has announced that its CFO, Laurie Stelzer, will be leaving the company on September 8. Aaron Ondrey will take over as interim CFO.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 8:01 pm

SCHW

Schwab's stock is trading higher after a dip on Monday due to the announcement of job cuts and expected costs of up to $500 million.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:54 pm

WBD

CNN is considering Mark Thompson for a top position within the company.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 6:37 pm

DIS

NFLX

WBD

Studio executives from Walt Disney (DIS), Warner Bros. Discovery (WBD), and Netflix (NFLX) met with the Writers Guild of America (WGA) to discuss a contract offer aimed at ending the ongoing Hollywood strike. The meeting, however, was unsuccessful. The WGA criticized the studios' offer, which included increased minimum gains, employment guarantees for TV series writers, and greater transparency in viewership data, among other things. The strike has been ongoing for about 114 days.

Portfolio Pulse from Anthony Noto

August 23, 2023 | 4:29 pm

SPY

The U.S. Labor Department has announced a preliminary estimate of nonfarm payrolls benchmark revision that would reduce the March 2023 level of employment by 306,000 or 0.2%.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 2:07 pm