Streetbeat News

Labor Issues

BNBUSD

Binance, the world's largest crypto exchange, has confirmed workforce reductions amid a shrinking market share and organizational restructuring. The magnitude of the cuts remains unclear, with some speculating that around 20% of the 8,000-strong workforce could be affected. Binance CEO Changpeng Zhao maintains a bullish outlook, revealing the company's 'bottom out' program aimed at parting ways with individuals who do not align with the company's culture or current situation.

Portfolio Pulse from Jose Rodrigo Safdiye

May 31, 2023 | 7:36 pm

MS

Morgan Stanley will book a severance charge in Q2 following job cuts, according to the bank's Co-President. The move is expected to impact the bank's financial performance.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 6:58 pm

AMZN

Amazon (AMZN) stock is down amid reports of a planned walkout by 1,900 employees worldwide, protesting the company's return-to-office mandate, layoffs, and environmental record. Amazon recently eliminated its Shipment Zero climate goal and initiated significant layoffs, cutting 27,000 jobs. CEO Andy Jassy has also terminated at least 37 projects conceived during Jeff Bezos' tenure.

Portfolio Pulse from Anusuya Lahiri

May 31, 2023 | 3:48 pm

BNBUSD

BTCUSD

ETHUSD

Binance CCO Patrick Hillmann denies rumors of cutting 20% of employees as a cost-cutting measure, stating that Binance experienced exponential growth in the past 5 years and faced operational challenges.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 3:16 pm

BNBTUSD

BTCUSD

ETHUSD

Milk Road reports that Binance, the world's largest crypto exchange, is laying off 20% of its employees.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 1:27 pm

EGHT

8x8, a cloud communications provider, has appointed Samuel Wilson as its new CEO, effective May 26.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 12:33 pm

VRME

VerifyMe has appointed Adam Stedham as its new CEO. Stedham brings extensive experience in the technology and security sectors, which is expected to drive growth for the company.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 12:18 pm

LIND

Lindblad Expeditions announced the departure of CEO Dolf Berle, effective June 30, 2023. Founder and Co-Chair of the Board of Directors, Sven-Olof Lindblad, will return as CEO and work closely with Berle for a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 11:33 am

AEHR

Aehr Test Systems has appointed Chris Siu as its new Chief Financial Officer and Executive Vice President of Finance. Siu brings extensive experience in finance and operations to the company.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 11:31 am

PRMW

Primo Water's CEO Tom Harrington has announced his intention to retire by December 31, 2023. The company's board has commenced a search for his successor, and Harrington will continue to serve as CEO and board member until a replacement is found.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 10:32 am