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Labor Issues

AAPL

AMZN

DIS

NFLX

Walt Disney Co has formed a task force to study artificial intelligence (AI) and its applications across the company. The company is looking to develop AI applications in-house and form partnerships with startups. Disney has 11 job openings seeking candidates with AI or machine learning expertise. The company sees AI as crucial to monitor the surging costs of movie and television production. Major entertainment companies, including Netflix, Amazon, and Apple, are also hiring for positions in the AI field.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 7:56 pm

YELL

The Teamsters Union is urging Congress, the White House, and the Federal Government to pass new legislation that prioritizes workers in the corporate bankruptcy process. This call comes in the wake of Yellow Corp's filing for Chapter 11 bankruptcy.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 4:39 pm

EA

EA Sports is undergoing a realignment that will not place a heavy workload on its staff. The main challenge is coding scheduling models if several conferences don't decide on their format until January.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 3:56 pm

STLA

The United Auto Workers Union has reported that Stellantis, the parent company of Chrysler, is seeking concessions in bargaining talks, including cuts to medical coverage.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 3:45 pm

ACB

CGC

CRON

Florida Governor Ron DeSantis has signed a bill that expands medical marijuana advertising and manufacturing restrictions to prohibit any products or messages promoting recreational cannabis use. The law also imposes stricter eligibility requirements for industry workers. The new law could significantly impact the market, especially if an adult-use legalization measure is enacted by voters next year. The law also removes exemptions from employment background screenings for people with certain criminal records, and expands the background screening requirement to include all medical cannabis testing lab employees.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 2:32 pm

GOOGL

META

MSFT

Meta Platforms, Inc. has downsized an AI team hired to create a database of over 600 million protein structures, shifting its focus to commercializing AI products. The company has also undergone significant restructuring, including management changes and job cuts affecting about 20,000 staff. Meta's shares are trading lower by 0.20% at $316.02.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 1:45 pm

EBS

Emergent BioSolutions (NYSE:EBS) is reducing investment in its CDMO services business, leading to a reduction of approximately 400 employees across all areas of the company. This includes reducing operations at its Bayview facility in Baltimore, Maryland, and its facility in Canton, Massachusetts, due to changes in the volume of U.S. government procurements of medical countermeasures.

Portfolio Pulse from Charles Gross

August 08, 2023 | 11:19 am

AAPL

AMZN

ZM

Zoom Video Communications Inc. (NASDAQ:ZM) is asking its employees to return to the office at least two days a week if they live within 50 miles of a company office. This comes after the company's success was driven by the work-from-home wave during the Covid-19 pandemic. Other big technology companies like Apple Inc. (NASDAQ:AAPL) and Amazon.com Inc. (NASDAQ:AMZN) have also asked their employees to return to the office.

Portfolio Pulse from Rounak Jain

August 08, 2023 | 8:05 am

DIS

Visual effects (VFX) crews at Marvel Studios have voted to unionize, marking the first time VFX professionals have banded together in such a manner. The move comes amid a wider wave of union activity in the entertainment industry and follows recent criticism of Marvel's VFX for demanding post-production schedules and poor working conditions.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 10:54 pm

FARM

Farmer Brothers Company (NASDAQ:FARM) has announced a transition of its CFO role. Current CFO Scott Drake will conclude his employment on Oct. 1, 2023, and will assist with the transition. Brad Bollner, the company's Vice President of Finance, will serve as interim CFO. The transition is not related to any concerns about the company's fiscal 2023 financial results.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 9:03 pm