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Labor Issues

CRM

GOOG

GOOGL

META

Alphabet Inc. has issued a notice asking employees to return to the office, following Meta Platforms Inc.'s policy change. Remote work requests will be considered on an exception basis, and employees are expected to be in the office at least three days a week.

Portfolio Pulse from Ananya Gairola

June 08, 2023 | 9:41 am

VLN

Valens Semiconductor (NYSE: VLN) plans to cut its workforce by 15% to improve operational efficiency and has revised its FY23 revenue outlook to $83.8M-$84.2M from the prior $97M-$100M. The company reiterates Q2 revenue guidance of $23.9M-$24.1M and expects Q3 revenue of $14.0M-$14.2M.

Portfolio Pulse from Benzinga Newsdesk

June 08, 2023 | 9:09 am

ALV

Automotive safety supplier Autoliv Inc (NYSE:ALV) plans to cut 8,000 jobs, or 11% of its workforce, in a cost-cutting effort. The company will reduce 6,000 direct positions and 2,000 indirect positions, with 1,000 of the latter in Europe. The initiative will begin in 2023 and be completed by 2025.

Portfolio Pulse from Anan Ashraf

June 08, 2023 | 7:52 am

EGIO

Edgio's board approved a restructuring plan on June 6, 2023, which includes a reduction in force of 134 employees, or 12% of its global workforce. The company expects $3.7 million in charges and $23.7 million in net annual savings.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2023 | 9:33 pm

ACNT

Ascent Industries announced its decision to permanently cease operations at its welded pipe and tube facility in Munhall, Pennsylvania, effective on or around August 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2023 | 8:53 pm

HCP

HashiCorp issued weak guidance and announced an 8% workforce reduction, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2023 | 8:37 pm

HCP

HashiCorp announced targeted cuts in discretionary spending and a workforce reduction of approximately 8%. The company aims to optimize its cost structure and improve operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2023 | 8:34 pm

HCP

HashiCorp Inc (NASDAQ:HCP) reported Q1 revenue of $137.98 million, beating estimates, and a loss of 7 cents per share, also better than expected. However, the company announced spending cuts and an 8% workforce reduction, causing its stock to tumble in after-hours trading.

Portfolio Pulse from Adam Eckert

June 07, 2023 | 8:29 pm

RCRT

Recruiter.com Group announced that Evan Sohn has provided the board with notice of his resignation as CEO of the company on June 2.

Portfolio Pulse from Happy Mohamed

June 07, 2023 | 8:12 pm

GME

GameStop has announced the termination of its former CEO, without providing further details.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2023 | 8:06 pm