Streetbeat News

Labor Issues

AMZN

JTKWY

Grubhub, owned by Just Eat Takeaway.com NV (OTCPK: JTKWY), plans to cut its workforce by 15%, impacting around 400 roles. The move aims to reduce operating and staff expenses to stay competitive. Grubhub recently extended its deal with Amazon (NASDAQ: AMZN) for an additional year.

Portfolio Pulse from Lekha Gupta

June 13, 2023 | 1:51 pm

VZ

Verizon Communications is searching for a new finance chief who could potentially transition into the Chief Executive role. The company is focusing on outsiders for a 'CFO Plus' position to boost business performance and expand its pool of possible successors.

Portfolio Pulse from Akanksha Bakshi

June 13, 2023 | 1:42 pm

UNP

Union Pacific (UNP) expects a recent change in Nebraska state income tax rate to add nearly $75M to its after-tax income in Q2 2023. However, the company also anticipates a one-time pre-tax expense of around $70M in Q2 2023 due to the ratification of a deal with the International Association of Smart-TD.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 1:13 pm

UAL

United Airlines Holdings Inc (NASDAQ:UAL) is offering its pilots a contract with an incremental value above $8 billion over four years. The company is negotiating with the union to reach a formal agreement. CEO Scott Kirby predicts a full recovery in corporate travel despite a 25% reduction from 2019 levels.

Portfolio Pulse from Akanksha Bakshi

June 13, 2023 | 12:47 pm

OMEX

Odyssey Marine Exploration announced the departure of its CFO Christopher Jones, effective July 7. Jones will continue in an advisory role, while the company searches for an interim and permanent CFO. Odyssey expects to reduce administrative expenses during this period.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 12:33 pm

MEIP

MEI Pharma announces the planned departure of CFO Brian Drazba by September 1, 2023, and the appointment of Justin File as his successor. File has 30 years of experience in accounting and finance, and previously served as CFO of Evofem Biosciences.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 12:09 pm

FTCH

GXO

GXO Logistics expands its partnership with FARFETCH, creating 500 jobs to support Reebok's European ecommerce operations.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2023 | 11:10 am

INTC

SFTBY

SoftBank plans layoffs at its Vision Fund investment arm, potentially impacting up to 30% of employees. The company is also in talks to get Intel as a key investor for Arm Ltd's IPO.

Portfolio Pulse from Lekha Gupta

June 13, 2023 | 9:32 am

CHS

Chico's FAS has appointed David Oliver as Executive Vice President, CFO, and Chief Accounting Officer, succeeding Patrick Guido effective June 24.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 8:32 pm

CHGG

Chegg plans to reduce its workforce by 80 employees, approximately 4% of its total staff, and expects to incur charges of $5M-$6M.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 8:20 pm