Streetbeat News

Labor Issues

AMZN

A group of 133 U.S. House members have signed a letter supporting the Teamsters' demands for Amazon CEO Andy Jassy to address concerns over union-busting and worker misclassification practices. This highlights ongoing labor issues at Amazon.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 4:29 pm

BA

Boeing Co. (NYSE:BA) reached a preliminary agreement with its striking machinists, proposing a contract with wage increases and bonuses. Union members will vote on Wednesday, the same day Boeing reports its Q3 results. A positive vote could end the strike, benefiting Boeing's new CEO and investors.

Portfolio Pulse from Erica Kollmann

October 21, 2024 | 4:04 pm

ALK

A federal judge in Seattle has ordered Alaska Airlines to rehire a mechanic who was fired for testing positive for cannabis, highlighting the tension between state and federal laws. The court upheld an arbitration decision favoring the mechanic, emphasizing the evolving legal landscape of cannabis use.

Portfolio Pulse from Patricio Liddle

October 21, 2024 | 3:53 pm

DIS

IWD

MS

VUG

Disney has appointed James Gorman as the new Chairman of the Board, effective January 2025, as it searches for a new CEO. The company is facing challenges in its theme parks and has laid off employees, while its stock has declined over 13% in the last six months.

Portfolio Pulse from Anusuya Lahiri

October 21, 2024 | 3:14 pm

NSC

Norfolk Southern has reached a tentative five-year collective bargaining agreement with the International Brotherhood of Electrical Workers, covering 67% of its union workforce. The deal includes enhancements to pay, healthcare, and vacation benefits, pending ratification.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 3:06 pm

BA

Boeing shares are trading higher following a preliminary agreement with striking machinists to resolve a five-week strike. A vote on the proposal is scheduled for Wednesday.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 11:28 am

CBUS

Cibus announced restructuring and cost reduction initiatives to optimize its business and cost structure, aiming for $10 million in annual savings and a 20% reduction in monthly cash use by early 2025. The focus is on herbicide-resistant traits in Rice, Soybean platform development, and multi-crop traits.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 11:02 am

T

AT&T has successfully ratified labor agreements with the Communications Workers of America (CWA), covering approximately 23,000 employees in the Southeast and West regions. This move underscores AT&T's position as the largest employer of union-represented employees in the U.S. telecommunications industry and highlights its commitment to providing competitive wages and benefits.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 8:16 am

TSLA

Eric Quinnell, a senior staff engineer at Tesla, has left the company amid a series of executive departures. Tesla has also promoted several executives recently.

Portfolio Pulse from Anan Ashraf

October 21, 2024 | 6:20 am

BA

Boeing has reached a tentative agreement with the International Association of Machinists and Aerospace Workers to end a five-week strike. The deal includes wage increases, retirement benefits, and a ratification bonus. The strike has cost Boeing approximately $1 billion per month and disrupted aircraft production. The union will vote on the proposal on Wednesday.

Portfolio Pulse from Nabaparna Bhattacharya

October 19, 2024 | 5:38 pm