Streetbeat News

Labor Issues

AMZN

Amazon is increasing the average total compensation package for its fulfillment and transportation employees in the US to over $29 per hour.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 2:54 pm

BA

Boeing and its largest union have resumed talks with federal mediators after 30,000 workers went on strike over wages and pensions. This development is crucial for Boeing as it seeks to resolve labor disputes that could impact its operations.

Portfolio Pulse from Akanksha Bakshi

September 18, 2024 | 1:03 pm

APLT

IAUX

LUNR

Intuitive Machines (LUNR) shares surged 70% after securing a NASA contract worth up to $4.82 billion. Applied Therapeutics (APLT) shares rose 57% as the FDA waived the need for an advisory committee meeting. i-80 Gold (IAUX) shares increased 11% following the appointment of a new CEO.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 12:27 pm

GM

Unifor has reached a tentative agreement with General Motors for over 1,300 workers at the CAMI Assembly and Battery Assembly facilities in Ontario. The agreement, which aims to improve wages, pensions, and job security, will be detailed to union members on Sept. 22.

Portfolio Pulse from Anan Ashraf

September 18, 2024 | 10:16 am

BLNK

Blink Charging Co. (NASDAQ:BLNK) is laying off 14% of its workforce to cut costs amid softening EV demand. The layoffs aim to save $9 million annually and will be completed by Q1 2025. Despite a slight revenue increase, Blink's gross profit has declined, and it has lowered its 2024 revenue guidance.

Portfolio Pulse from Anan Ashraf

September 18, 2024 | 9:12 am

BA

Boeing is resuming contract negotiations with its largest union, IAM, after a strike over wage and pension disputes. The strike has disrupted production and led to a hiring freeze and potential furloughs. Boeing's stock has been declining amid these developments.

Portfolio Pulse from Benzinga Neuro

September 18, 2024 | 7:47 am

AMZN

Amazon has mandated its corporate staff to return to the office five days a week starting January, while its subsidiary One Medical requires a three-day office presence. This decision has sparked criticism among Amazon employees and uncertainty among One Medical staff. The move is part of a broader trend of companies reassessing remote work policies.

Portfolio Pulse from Benzinga Neuro

September 18, 2024 | 5:36 am

BLNK

Blink Charging has announced a cost reduction plan that includes reducing its global workforce by 14%, which is expected to result in annualized savings of $9 million.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 8:32 pm

LUV

Activist investor Elliott is urging Southwest Airlines' mechanics union to push for the removal of CEO Robert Jordan and for Board Chair Gary Kelly to depart sooner than planned, according to a union memo.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 8:08 pm

CSCO

Cisco has conducted its second layoff of 2024, affecting thousands of employees, including those in its Talos Security unit. The company aims to invest in growth opportunities and drive efficiencies despite reporting a strong financial year. The layoffs have created a toxic work environment, and there is no indication of executive pay cuts.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 7:35 pm