Streetbeat News

Labor Issues

GM

Unifor members at GM's CAMI Assembly and Battery Assembly plants in Ontario have ratified a new contract with significant pay increases. The contract includes a 15% wage increase for production workers and a 20.25% hike for skilled trades, expiring in 2026. This agreement supports workers during the transition to electric vehicles.

Portfolio Pulse from Anan Ashraf

September 23, 2024 | 6:21 am

AAPL

FDX

HD

PLTR

SKX

WMT

Benzinga highlights bullish and bearish stock stories, including Palantir's growth potential, Walmart's wage increase, and concerns over Apple's iPhone 16 demand. The Federal Reserve's rate cut raises stagflation fears.

Portfolio Pulse from Michael Cohen

September 21, 2024 | 12:11 pm

AMZN

JPM

JPMorgan CEO Jamie Dimon has called for federal employees in Washington, DC, to return to their offices, expressing frustration over empty buildings. This highlights the ongoing debate over remote work policies. Amazon CEO Andy Jassy also announced a return to office policy for Amazon employees.

Portfolio Pulse from Navdeep Yadav

September 21, 2024 | 1:16 am

AAL

The Transport Workers Union of America has announced a tentative two-year contract extension with American Airlines for AMTs, fleet service workers, and ground mechanics. This extension will take effect on January 1, 2025.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 7:06 pm

MSFT

Microsoft is ending its Xbox Ambassadors program after 13 years, with a complete shutdown by October 15, 2024. The program's closure is part of a shift in community engagement strategies, focusing on Xbox Rewards and Xbox Research. This comes amid a challenging year for Microsoft Gaming, marked by layoffs and studio closures.

Portfolio Pulse from Franca Quarneti

September 20, 2024 | 7:06 pm

SPY

Fed's Bowman discusses the current economic situation, highlighting a strong economy and near full employment. However, he notes uncertainties in labor market data due to measurement challenges and immigration impacts. Bowman emphasizes collaboration with colleagues to ensure policy aligns with dual mandate goals.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 5:03 pm

OLO

Olo has announced a workforce reduction of approximately 9%, expecting to incur charges between $2.2 million and $2.6 million related to this reduction in Q3, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 1:18 pm

M

RFV

Macy's, Inc. plans to hire over 31,500 seasonal workers for the holiday season across its stores and distribution centers. The company offers a quick online application process and will hold in-person hiring events. This move is part of a broader trend among U.S. retailers, with Target and Bath & Body Works also increasing seasonal hiring.

Portfolio Pulse from Lekha Gupta

September 20, 2024 | 11:09 am

AMZN

Amazon is offering free Prime memberships and a pay increase to its warehouse workers, but not to corporate staff, ahead of the holiday season. This move is part of Amazon's broader strategy, which includes launching a new AI assistant and ending remote work policies.

Portfolio Pulse from Benzinga Neuro

September 20, 2024 | 10:36 am

WFG

West Fraser Timber Co. Ltd. (NYSE:WFG) will indefinitely curtail its sawmill in Lake Butler, Florida, due to high fiber costs and soft lumber markets. This decision will impact 130 employees and reduce U.S. lumber capacity by 110 million board feet. An impairment charge is expected in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 9:05 pm