Streetbeat News

Labor Issues

DELL

Dell Technologies is planning further headcount reductions as part of its ongoing cost-cutting measures. The company will also limit external hiring and implement employee reorganizations, as disclosed in a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 8:14 pm

NYT

Tech workers at The New York Times have voted to authorize a strike, highlighting ongoing labor issues within the company. This move could impact the company's operations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 5:39 pm

NKE

At Nike's annual shareholders meeting, investors voted against a proposal concerning workers' rights. This decision reflects the current stance of Nike's shareholders on labor issues.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 4:44 pm

EADSY

Airbus CEO acknowledges the aerospace industry's underestimation of workforce replacement post-COVID-19. Airbus plans to launch a new airplane by the end of the decade, focusing on reducing fuel burn by 25% with potential use of open-rotor engines.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 2:19 pm

RTX

RTX CEO highlights the ongoing challenge of finding qualified labor in the aerospace industry and the company's efforts to diversify away from Chinese suppliers amid potential geopolitical tensions.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 2:16 pm

JPM

JP Morgan's international retail business is performing better than expected, with plans to expand into the rest of Europe. The bank is also investing in hiring bankers for its corporate and investment banking sectors.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 2:06 pm

BA

GCAD

ITA

Boeing has informed suppliers of a six-month delay in reaching a key production milestone for its 737 MAX, now targeting March 2025 for a monthly output of 42 jets. This delay highlights ongoing production challenges. Additionally, Boeing faces potential labor unrest as union members vote on a tentative agreement.

Portfolio Pulse from Lekha Gupta

September 10, 2024 | 10:57 am

BAC

Bank of America has increased its U.S. minimum hourly wage to $24, aiming for $25 by 2025. This raises the minimum annual salary for full-time employees to nearly $50,000.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 9:57 am

EWU

The U.K. Claimant Count Change for August was reported at 23.7K, significantly lower than the estimated 95.5K and the revised prior figure of 102.3K. This indicates a better-than-expected labor market situation in the U.K.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 6:05 am

BA

Boeing has reached a tentative labor agreement with the International Association of Machinists and Aerospace Workers, but many union members are dissatisfied, seeking higher wages and better pensions. The deal includes a 25% wage increase and a commitment to build a new airplane in Seattle. A vote is set for Thursday, with a potential strike looming. Boeing's stock rose nearly 3% following the announcement, but financial and safety challenges remain.

Portfolio Pulse from Benzinga Neuro

September 10, 2024 | 1:09 am