Streetbeat News

Labor Issues

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Senators Elizabeth Warren and Bernie Sanders are advocating for a minimum wage increase to $17 per hour, emphasizing the role of workers in corporate profitability. This sentiment is shared across party lines and has been implemented by corporations like Amazon and Costco. However, entities like the National Restaurant Association and the U.S. Chamber of Commerce express concerns about potential adverse effects on business growth.

Portfolio Pulse from Benzinga Neuro

August 14, 2023 | 1:07 am

META

Meta's 'Year of Efficiency' campaign, led by Mark Zuckerberg, has resulted in significant cost and workforce reductions, including at the Chan Zuckerberg Initiative (CZI), a philanthropic endeavor by Zuckerberg and his wife. Approximately 50 employees at CZI received termination notices. The layoffs primarily affected CZI's education team. Earlier this year, Meta laid off 6,000 workers and reduced 10,000 jobs.

Portfolio Pulse from Bibhu Pattnaik

August 12, 2023 | 8:38 pm

BROG

Brooge Energy has started the search for a new CEO following the resignation of Lina Saheb as Interim CEO.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 8:35 pm

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Amazon has reminded some of its US employees of the company's policy requiring them to spend at least three days a week in the office. Other companies, including IBM, Zoom, Chipotle, and BlackRock, have also been encouraging employees to spend more time in the office. Despite this, office attendance is still around 30% below pre-pandemic levels.

Portfolio Pulse from Anusuya Lahiri

August 11, 2023 | 6:13 pm

AMZN

Amazon.com Inc. is enforcing its return-to-office guidelines on US workers who have been working remotely. The company expects employees to spend at least three days a week in the office. Some employees received an email this week notifying them of not meeting this expectation.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:22 pm

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Unifor, a Canadian labor union, is considering Ford Motor Co. of Canada Ltd. as the target for this year's contract negotiations. The union sees this as a unique opportunity to set the standard for jobs in the electric vehicle era.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 3:21 pm

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Around 20,000 RMT members at 14 train operators will strike on August 26 and September 2 over pay, jobs, and conditions. This is expected to cause travel disruptions during the August Bank Holiday.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 2:57 pm

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WFC

Wells Fargo & Co is facing potential action from the National Labor Relations Board (NLRB) for violating federal labor law at an Oregon call center. The company allegedly enforced a rule barring employees from distributing pro-union literature without management approval and removed such literature from non-work areas. Wells Fargo has seen increased union organizing activities within its workforce. In a separate case, the company settled with an employee over similar charges.

Portfolio Pulse from Anusuya Lahiri

August 11, 2023 | 1:42 pm

DHX

DHI Group announced that its CFO, Kevin Bostick, has resigned effective September 1, 2023. The company has begun searching for a new CFO. Bostick will remain as a consultant until December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 11:09 am

SLRX

Salarius Pharmaceuticals announced plans to explore strategic alternatives and implement measures to extend resources, which includes laying off 50% of its staff.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 10:24 am