Streetbeat News

Labor Issues

F

Ford confirms layoffs in the US and Canada, primarily affecting engineering roles, according to a Reuters statement.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 1:07 pm

YELL

Yellow Corporation (NASDAQ:YELL) has filed a $137M+ lawsuit against the International Brotherhood of Teamsters (IBT), alleging breach of contract in blocking efforts to modernize the company. The complaint claims that the defendants caused damages by obstructing Yellow's restructuring plan, known as One Yellow, which is essential for the company's survival and competitiveness.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 12:24 pm

AHCO

AdaptHealth has appointed Crispin Teufel as its new CEO, effective September 1. Teufel will replace the current CEO, Luke McGee.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 12:19 pm

DLAKF

DLAKY

Lufthansa has entered decisive talks with its pilots' union to reach an agreement by the end of the week and avert the threat of a strike during the crucial summer travel season. The union rejected Lufthansa's previous offer as 'absolutely insufficient'.

Portfolio Pulse from Akanksha Bakshi

June 27, 2023 | 12:17 pm

AXP

American Express announced the retirement of CFO Jeffrey C. Campbell, with Deputy CFO Christophe Le Caillec named as his successor. Campbell will remain with the company as Vice Chairman until March 2024.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 11:35 am

AEL

HOOD

JEF

SNX

WBA

Walgreens, TD Synnex, American Equity, Robinhood, and Jefferies Financial are stocks to watch on Tuesday. Walgreens and TD Synnex are expected to report earnings, while American Equity is reportedly close to being acquired by Brookfield. Robinhood is cutting 7% of its full-time staff due to reduced customer engagement and trading activity.

Portfolio Pulse from Lisa Levin

June 27, 2023 | 8:14 am

F

Ford Motor confirmed it will conduct layoffs this week, primarily affecting engineering jobs in the U.S. and Canada. The job cuts will impact all three of Ford's business units: Ford Blue, Model e, and Ford Pro. This is part of Ford's ongoing restructuring efforts under its Ford+ plan.

Portfolio Pulse from Happy Mohamed

June 27, 2023 | 12:14 am

ILMN

Illumina has initiated layoffs within its R&D team, affecting approximately 10% of the staff. The layoffs follow the resignation of CEO Francis deSouza amid pressure from activist investor Carl Icahn. Interim CEO Charles Dadswell will lead the company while a search for a new CEO is conducted.

Portfolio Pulse from Benzinga Staff

June 26, 2023 | 10:54 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) is cutting 7% of its full-time staff due to reduced customer trading activity and engagement. This is the company's third round of layoffs in just over a year. Despite the layoffs, Robinhood's shares are up about 18% this year.

Portfolio Pulse from Benzinga Staff

June 26, 2023 | 10:20 pm

HOOD

Robinhood Markets has cut approximately 150 full-time jobs, resulting in a layoff of about 7% of its full-time employees.

Portfolio Pulse from Bill Haddad

June 26, 2023 | 8:46 pm