Streetbeat News

Labor Issues

CMG

SBUX

Chipotle Mexican Grill has expedited its CFO transition following CEO Brian Niccol's move to Starbucks. Adam Rymer will take over as CFO on Oct. 1, earlier than planned. The transition comes amid leadership changes and scrutiny from the NLRB over labor issues. Despite challenges, some experts see Chipotle as a strong investment opportunity.

Portfolio Pulse from Benzinga Neuro

August 29, 2024 | 3:23 am

BMRN

BioMarin is reducing its global workforce by approximately 225 employees as part of an organizational redesign and updated strategy for ROCTAVIAN. The company will incur $30-$35 million in severance costs, with reductions expected to complete by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 9:08 pm

RPTX

Repare Therapeutics is strategically reprioritizing its focus on its clinical oncology portfolio, reducing its workforce by 25%, primarily in preclinical areas, and expects non-recurring cash payments of $1.5M-$2M in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 8:15 pm

HD

Home Depot Inc (NYSE:HD) will stop marijuana testing for most employees, making it one of the largest companies to do so. This change, effective September 1, aims to keep the company competitive and compliant with laws. The policy excludes workers regulated by the Department of Transportation.

Portfolio Pulse from Maureen Meehan

August 28, 2024 | 8:09 pm

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