Streetbeat News

Labor Issues

ALOT

AstroNova Inc has announced targeted reductions to its workforce as part of a restructuring plan. The company expects to substantially complete the restructuring plan during its fiscal year 2024.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 12:44 pm

T

AT&T's Chief Human Resources Officer, Angela Santone, is set to depart in September amidst an $8 billion cost-reduction program and job cuts. The company has been conducting rounds of layoffs, reducing its total staff by 32% since the beginning of 2021. AT&T is restructuring its operations, reducing 350 offices to nine core locations, and requiring 60,000 managers to work in person at these hubs.

Portfolio Pulse from Anusuya Lahiri

August 01, 2023 | 11:52 am

CVS

CVS Health Corp is planning to cut around 5,000 jobs, primarily in corporate positions, as part of a cost-cutting drive, according to the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 7:09 am

BBJP

DXJ

EWJ

The Japan Jobs/Applications ratio for June came in at 1.30, slightly below the estimated 1.32 and the prior figure of 1.31.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 4:13 am

GOOG

GOOGL

Alphabet Inc is planning a significant overhaul of its Google Assistant, incorporating generative AI technologies. The change will affect end-users, developers, and Google's staff. The overhaul has already started with the mobile version of the product. As part of this shift, Google is reorganizing the teams responsible for Assistant, leading to some job cuts. Google has also initiated Project Tailwind, a program designed to offer users access to private and personalized AI.

Portfolio Pulse from Piero Cingari

July 31, 2023 | 10:05 pm

UPS

Teamsters local unions, representing 340,000 full- and part-time workers at UPS, voted 161-1 to endorse the tentative agreement reached with UPS on July 25. The unions recommend its passage by the full membership.

Portfolio Pulse from Charles Gross

July 31, 2023 | 10:02 pm

GOOG

GOOGL

Google plans to revamp its Assistant using generative AI technologies similar to those that power ChatGPT and its own Bard chatbot. The move will change how Assistant works for consumers, developers, and Google's own employees. The company is reorganizing the teams that work on Assistant and making a small number of layoffs. Other companies, including Amazon, are making similar moves.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 9:29 pm

BUD

Anheuser-Busch's shares are trading lower following recent layoffs at the company.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:53 pm

ACB

CGC

TLRY

The U.S. Senate has approved a defense bill that includes provisions to prevent intelligence agencies from denying security clearances to applicants due to their past marijuana use. The provision was part of the National Defense Authorization Act (NDAA) and the Intelligence Authorization Act. The move is seen as a way to modernize workforce recruitment and attract qualified personnel. The White House has not commented on the cannabis language in the NDAA legislation.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 6:02 pm

YELL

Yellow Corporation (NASDAQ:YELL) has reportedly ceased operations due to issues including debt from mergers and a dispute with the Teamsters Union, putting 30,000 jobs at risk. The company is also filing for bankruptcy. The shutdown could bring scrutiny to the Trump administration's decision to give the company a $700 million COVID rescue loan in 2020. Despite the news, YELL shares are trading higher by 23% to $0.87 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2023 | 12:56 pm