Streetbeat News

Labor Issues

SPY

An IMF official warns that AI could cause 'substantial disruptions' in job markets, potentially affecting stock prices of companies heavily invested in AI technology.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 6:03 pm

SPOT

Spotify plans to cut 200 employees, or 2% of its workforce, in its global podcast division and other functions as part of a strategic business alignment. The company will focus on expanding its alliance with leading podcasters and combine Parcast and Gimlet into a renewed Spotify Studios operation.

Portfolio Pulse from Lekha Gupta

June 05, 2023 | 3:50 pm

NSC

Norfolk Southern (NSC) has reached a sick leave agreement with the SMART-TD union for yardmasters, completing negotiations with all unions. This deal ensures yardmasters receive sick leave benefits and strengthens the company's relationship with its workforce.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 2:06 pm

ACRHF

AVTBF

IXHL

JSDA

SHWZ

SPRC

XSHLF

The National Cannabis Industry Association (NCIA) has laid off nearly half of its workforce to reduce costs and remain financially sound in 2023. Avant Brands elected six directors at its annual general shareholders meeting. SciSparc appointed Yaki Baranes as its new strategy and business development VP. Incannex Healthcare added three psychedelic therapy and science experts to its advisory board. XS Financial promoted Justin Vuong to CFO. Acreage Holdings announced the resignation of CEO Peter Caldini, with Dennis Curran taking over. Jones Soda welcomed Ronald Dissinger to its board of directors. Schwazze promoted Nirup Krishnamurthy to CEO.

Portfolio Pulse from Jelena Martinovic

June 05, 2023 | 1:47 pm

DAL

UAL

United Airlines Pilots Union has unanimously approved a vote to authorize a strike, demanding better pay than Delta Air Lines pilots. The Air Line Pilots Association has not yet set a date for the strike vote.

Portfolio Pulse from Akanksha Bakshi

June 05, 2023 | 12:43 pm

PMTS

CPI Card Group announced that President and CEO Scott Scheirman will retire on February 28, 2024. The board will implement a CEO succession plan.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 12:38 pm

ELMD

Electromed has announced the appointment of Jim Cunniff as President and CEO, effective July 1. He will succeed Kathleen Skarvan, who is retiring.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 12:19 pm

SYBX

Synlogic has reduced its workforce by 21% and is directing resources towards its late-stage portfolio of product candidates for rare metabolic diseases. This includes prioritizing activities for SYNB1934, SYNB1353, and the ongoing collaboration with Roche.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 10:51 am

FSM

Fortuna Silver Mines reports a fatality involving a worker employed by a mining contractor at its Caylloma Mine in Arequipa, Peru. The accident occurred during underground mining operations, and an investigation is underway.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 9:09 am

DIS

Walt Disney's Pixar Animation Studios has eliminated 75 positions, including two executives behind the box office disappointment 'Lightyear'. The cuts are part of Disney CEO Bob Iger's plan to eliminate 7,000 jobs and slash $5.5 billion in costs.

Portfolio Pulse from Happy Mohamed

June 03, 2023 | 6:13 pm