Streetbeat News

Labor Issues

SONO

Sonos has laid off approximately 100 employees, primarily from its marketing division, as it continues to address issues with its mobile app redesign. The company is also closing some customer support offices, including one in Amsterdam. CEO Patrick Spence has emphasized that fixing the app is the company's top priority, even delaying two hardware launches to focus on this issue.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 5:33 pm

BHP

Latest BHP-Union talks in Chile have failed to yield an agreement, potentially impacting BHP's operations and stock price.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 5:30 pm

MDLZ

Members of Teamsters Local 104 working at Mondelēz have unanimously authorized a strike, according to the Teamsters union.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 5:11 pm

BHP

BHP Group shares are trading lower due to a miner's union strike in Chile.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 3:49 pm

BHP

RIO

BHP (NYSE:BHP) faces a potential prolonged strike at the Escondida copper mine in Chile, which could significantly impact global copper supply. The union representing 2,400 workers rejected BHP's bonus offer, demanding a share of dividends instead. The situation recalls a similar strike in 2017 that reduced global copper supply by 7.5%. Other stakeholders include Rio Tinto (NYSE:RIO) and Japanese Jeco Corp.

Portfolio Pulse from Stjepan Kalinic

August 14, 2024 | 2:03 pm

CSCO

Cisco Systems, Inc. (NASDAQ:CSCO) is set to release its Q4 earnings on August 14. Analysts expect a decrease in earnings per share and revenue compared to the previous year. Cisco plans significant layoffs to focus on high-growth areas like cybersecurity and AI. The company has a dividend yield of 3.53%, translating to a quarterly dividend of 40 cents per share. Investors would need to own approximately 3,750 shares to earn $500 monthly from dividends.

Portfolio Pulse from Avi Kapoor

August 14, 2024 | 12:07 pm

ODP

The ODP Corporation's CFO, D. Anthony Scaglione, will step down from his position after September 13.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 11:07 am

TSLA

Tesla Inc. (NASDAQ:TSLA) is hiring an engineer for its '25 Guns Taskforce' at Giga Berlin, focusing on manufacturing engineering, ramp-up, production uptime, and cost optimization. The taskforce reports directly to CEO Elon Musk and has been crucial to the success of Giga Berlin, which manufactures Model Y vehicles and battery cells.

Portfolio Pulse from Anan Ashraf

August 14, 2024 | 10:22 am

ARM

INTC

Intel Corp. (NASDAQ: INTC) has sold its stake in Arm Holdings (NASDAQ: ARM) as part of its restructuring efforts to focus on liquidity and efficiency. The sale brought in approximately $146.7 million. Intel is also cutting 15% of its workforce and has suspended its dividend. Despite these moves, Intel's stock has declined significantly this year.

Portfolio Pulse from Benzinga Neuro

August 14, 2024 | 7:26 am

TSLA

Betsey Stevenson, former chief economist at the Department of Labor, criticized Donald Trump's praise of Elon Musk's anti-union tactics. The United Auto Workers (UAW) has filed federal labor charges against both Trump and Musk. This controversy comes amid a resurgence of organized labor in the U.S.

Portfolio Pulse from Benzinga Neuro

August 14, 2024 | 1:22 am