Streetbeat News

Labor Issues

MS

Morgan Stanley CEO James Gorman stated that the company is unlikely to implement more job cuts. This announcement comes after the bank had previously reduced its workforce.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 4:37 pm

VZ

Verizon is reportedly working with recruiters to search for a 'CFO Plus' candidate who could potentially become the company's next CEO. The company aims to improve business performance and deepen its successor options.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 3:44 pm

GRUB

JTKWY

Grubhub plans to cut around 400 positions as it faces increased competition in the food-delivery market. The company is looking to streamline its operations and improve efficiency.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 3:35 pm

ONCR

Oncorus's board has approved the dissolution and liquidation of the company, with a workforce reduction plan impacting substantially all remaining employees, expected to be complete by August 2023. Nasdaq will suspend trading of ONCR's common stock on June 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 10:34 am

ILMN

Illumina Inc. (NASDAQ:ILMN) announced the resignation of CEO Francis deSouza, effective June 11. Charles Dadswell, SVP and General Counsel, has been named interim CEO while the board searches for a new CEO. DeSouza will stay on as an advisor until July 31, 2023.

Portfolio Pulse from Charles Gross

June 11, 2023 | 1:20 pm

META

TSLA

Meta Platforms Inc. CEO Mark Zuckerberg praised Tesla CEO Elon Musk's actions at Twitter, including laying off thousands of employees and making the platform more technical. Despite Musk's criticism of Zuckerberg, the Meta CEO acknowledged that Musk's actions prompted industry-wide reflection on the effectiveness of similar principles.

Portfolio Pulse from Ananya Gairola

June 10, 2023 | 7:40 am

LTH

Life Time Group Holdings Inc's President, Jeff Zwiefel, has announced his intention to retire from the company, effective December 31.

Portfolio Pulse from Happy Mohamed

June 09, 2023 | 8:19 pm

ME

23andMe is reducing its workforce by approximately 75 employees, or 9% of its total workforce, with plans to complete the reduction substantially during Q1 of its fiscal year ending March 31, 2024, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

June 09, 2023 | 8:09 pm

TCEHY

Tencent's Riot Games and the LCS Players Association (LCSPA) have reached an agreement, resolving the strike that threatened to disrupt the North American season of 'League of Legends'. The compromise includes a new NACL business model, improvements to the NACL governance model, and reinforcement of healthcare insurance requirements for international LCS players.

Portfolio Pulse from Franca Quarneti

June 09, 2023 | 7:28 pm

TSLA

Tesla Inc (NASDAQ:TSLA) pays its employees between $85,000 and $175,000, according to data from work-visa applications. The data does not include stock-based compensation, grants, performance rewards, and bonuses, which have been lucrative for employees due to the stock's impressive performance from late 2019 to the end of 2021.

Portfolio Pulse from Adam Eckert

June 09, 2023 | 2:23 pm