Streetbeat News

Labor Issues

CSX

CSX Corp. has reached a tentative agreement with the SMART-TD CSRA union to provide paid sick leave benefits for trainmen, conductors, and yardmen. This marks the 10th such agreement CSX has reached with its union-represented employees since February.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 8:24 pm

PNTG

The Pennant Group (PNTG) has appointed Lynette Walbom as its new CFO, effective May 22. Walbom brings extensive experience in finance and operations, which could benefit the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 8:11 pm

AAPL

META

Meta Platforms stock is up following positive reports, including its collaboration with Magic Leap to compete against Apple in augmented reality. Meta is also preparing to launch a Twitter rival called 'Barcelona' in 2023. However, the company plans to lay off 6,000 more workers this week.

Portfolio Pulse from Anusuya Lahiri

May 22, 2023 | 8:00 pm

DIS

Disney has initiated its third round of planned layoffs, affecting around 700 employees across various divisions. This is expected to be the last significant round of layoffs, with smaller cuts possible in the coming months. Disney aims to achieve $5.5 billion in cost savings through these layoffs and other austerity measures.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 6:42 pm

WBD

Warner Bros. Discovery is expected to undergo another round of layoffs in its television business, particularly in its cable TV division. The cuts are described as 'pockets of refinement' rather than wholesale cuts, and are likely to occur later this summer.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 5:08 pm

GT

Independent Mexican union LSOM has petitioned that Goodyear workers are being denied freedom of association and collective bargaining. The U.S. Trade Representative has asked Mexico to review the denial of labor rights claims at Goodyear's tire plant under USMCA 'Rapid Response' rules.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 3:14 pm

CVX

META

MU

UBER

XOM

Meta faces a record $1.3B penalty for data privacy violation, Uber's diversity leader is suspended amid racism complaints, and China bans some of Micron's product sales. Exxon explores lithium production, and Chevron acquires PDC Energy in a $7.6B deal.

Portfolio Pulse from Vandana Singh

May 22, 2023 | 2:21 pm

WBD

Warner Bros. Discovery, Inc. (WBD) CEO David Zaslav was heckled during his commencement speech at Boston University amid an ongoing Hollywood writers' strike over pay and minimum wage. The incident has also affected the production of Warner Bros.' 'The Last of Us' Season 2.

Portfolio Pulse from Nabaparna Bhattacharya

May 22, 2023 | 2:17 pm

UBER

Uber Technologies has suspended its head of diversity, equity, and inclusion, Bo Young Lee, following complaints of racism at company events. Employees protested against events that focused on the experiences of white women at Uber, claiming that the company minimized racism and the harm white people can inflict on people of color.

Portfolio Pulse from Anusuya Lahiri

May 22, 2023 | 1:56 pm

F

Ford Motor's next electric truck will have a 30% lower labor cost than the current F-150, according to a company executive. Additionally, Ford will dedicate one North American battery plant to commercial vehicles.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 1:29 pm