Streetbeat News

Labor Issues

MSFT

Raven Software has filed a labor complaint against Activision Blizzard and Microsoft, alleging bad faith bargaining and other labor issues. This follows the formation of a union at Raven Software and reflects broader labor activism in the gaming industry.

Portfolio Pulse from Franca Quarneti

August 28, 2024 | 6:41 pm

UAL

United Airlines flight attendants have voted to authorize a strike, according to their union. This development could impact United Airlines' operations and financial performance if a strike occurs.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 5:03 pm

CTNT

Cheetah Net Supply Chain Service shares are trading lower following the announcement of the resignation of its CFO.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 4:33 pm

AMZN

Amazon drivers at the DIL7 delivery station in Skokie, IL, are demanding union recognition and a labor contract. They are bargaining for fair wages, affordable health care, and safe working conditions.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 3:21 pm

META

Nearly half of OpenAI's AGI safety researchers have resigned, citing a shift in focus from safety to commercial product development. This includes notable figures like Jan Hendrik Kirchner and cofounder John Schulman. The resignations highlight a broader debate on AI safety and regulation, with OpenAI facing criticism for opposing California's AI regulation bill. In response, OpenAI has appointed Irina Kofman, a former Meta executive, to focus on safety and preparedness.

Portfolio Pulse from Benzinga Neuro

August 28, 2024 | 10:47 am

INTC

NVDA

Intel board member Lip-Bu Tan resigned due to disputes over the company's direction, leaving a gap in chip-industry expertise. His departure comes as Intel faces financial challenges, including layoffs and a paused dividend, and struggles with its AI strategy.

Portfolio Pulse from Benzinga Neuro

August 28, 2024 | 6:22 am

AAPL

Apple Inc. (NASDAQ:AAPL) has laid off approximately 100 employees from its services division, affecting teams responsible for the Apple Books app, Apple Bookstore, and Apple News. Despite these layoffs, Apple continues to perform well financially, with a 5% year-over-year revenue increase in its third-quarter earnings.

Portfolio Pulse from Ananya Gairola

August 28, 2024 | 4:06 am

COST

Costco fleet drivers, represented by the Teamsters, have overwhelmingly authorized a strike following a suspension of negotiations affecting over 18,000 workers.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 8:24 pm

SHAK

Shake Shack plans to close nine company-owned locations in California, Ohio, and Texas by September 25. Despite the closures, the company reaffirms its fiscal Q3 and FY24 guidance. Management is offered positions in nearby locations, and hourly team members are eligible for rehire. The company expects Q3 pretax charges between $28M and $30M.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 8:22 pm

CMG

Chipotle Mexican Grill (NYSE:CMG) shares rose as the company tests a new menu item, Chipotle Honey Chicken, in select locations. However, the National Labor Relations Board accused Chipotle of withholding pay raises from unionized employees, which could lead to legal challenges.

Portfolio Pulse from Vaishali Prayag

August 27, 2024 | 8:12 pm