Streetbeat News

Labor Issues

IDRSF

Idorsia Ltd has entered into exclusive negotiations with an undisclosed party for the global rights to aprocitentan. The company plans to streamline its business, potentially making 270 positions redundant, and restructure its outstanding debt.

Portfolio Pulse from

November 27, 2024 | 6:15 am

C

Citigroup is significantly reducing the number of banker promotions as part of a cost-cutting initiative. Only 2,000 employees will receive promotions this year, compared to 8,000 in previous years.

Portfolio Pulse from

November 26, 2024 | 8:00 pm

STLA

Stellantis NV plans to close its Vauxhall van-making factory in Luton, affecting 1,100 jobs. Production will shift to Ellesmere Port, which will receive a £50 million investment.

Portfolio Pulse from

November 26, 2024 | 4:00 pm

TSLA

Tesla is preparing to launch a robotaxi service and is building a teleoperations team to support it. The company is hiring a software engineer to develop a system for remote control of robotaxis and humanoid robots.

Portfolio Pulse from

November 26, 2024 | 2:00 pm

SG

Sweetgreen's strategic menu innovations and technology implementations have driven significant growth in sales and revenue. The introduction of Infinity Kitchens and AI-based labor management systems is expected to improve unit-level economics and control labor costs. Despite a slight Q3 slowdown, growth is expected to continue with new menu items and a revamped loyalty program.

Portfolio Pulse from

November 26, 2024 | 12:00 pm

TSLA

Tesla is preparing to launch a robotaxi service and is building a teleoperations team to support it. A job listing indicates Tesla is hiring a software engineer to develop a system for remote control of robotaxis and humanoid robots.

Portfolio Pulse from

November 25, 2024 | 9:00 pm

SBUX

Starbucks baristas are unable to view their schedules due to a ransomware attack on a vendor. The company is managing the situation manually to ensure employees are paid.

Portfolio Pulse from

November 25, 2024 | 9:00 pm

AMZN

Amazon is expanding the use of robots in its warehouses, aiming to improve efficiency and reduce employee injuries. This move could impact the workforce and operational costs.

Portfolio Pulse from

November 25, 2024 | 8:00 pm

UPS

UPS is focusing on rewarding its shareholders with an industry-beating dividend yield. However, the company faces challenges such as high labor costs and below-par shipping activity.

Portfolio Pulse from

November 25, 2024 | 7:30 pm

F

Ford is restructuring its European operations, cutting 4,000 jobs due to weak EV demand, lack of government support, and competition from Chinese automakers. This represents 14% of its European workforce and 2.3% of its global workforce.

Portfolio Pulse from

November 25, 2024 | 2:45 pm