Streetbeat News

Labor Issues

NYT

New York Times tech workers crossed the picket line during a tech strike focused on remote work, pay equity, and subcontracting limits.

Portfolio Pulse from

November 06, 2024 | 12:30 am

AMZN

Amazon CEO Andy Jassy clarified that the company's new 5-day in-office mandate is not intended as a 'backdoor layoff.' This policy will take effect in January, requiring employees to work full-time from the office.

Portfolio Pulse from

November 05, 2024 | 10:45 pm

GOEV

Canoo, an electric vehicle startup, has experienced the departure of its CFO and top lawyer, adding to a series of executive exits. The company is facing challenges in achieving mass adoption of its electric work vans.

Portfolio Pulse from

November 05, 2024 | 10:45 pm

AMZN

Amazon CEO Andy Jassy clarified in an all-hands meeting that the company's return-to-office (RTO) policy is not intended as a 'backdoor layoff' strategy. This statement aims to address employee concerns about the implications of the RTO mandate.

Portfolio Pulse from

November 05, 2024 | 10:00 pm

IHRT

iHeart Media is cutting hundreds of jobs due to financial struggles exacerbated by competition from music streaming services. The company is heavily in debt, leading to these significant layoffs.

Portfolio Pulse from

November 05, 2024 | 8:00 pm

BA

Boeing's strike with machinists has ended as 33,000 workers are set to return after approving a new contract. The contract includes a 38% wage increase over four years, impacting Boeing's labor costs.

Portfolio Pulse from

November 05, 2024 | 7:00 pm

BA

Boeing's machinists union has voted to approve a third contract agreement, ending a nearly two-month-long strike that had significantly impacted the company.

Portfolio Pulse from

November 05, 2024 | 5:00 pm

LSCC

Lattice Semiconductor (LSCC) announced job cuts following a miss on profit estimates and a decline in sales, leading to a drop in its stock price.

Portfolio Pulse from

November 05, 2024 | 5:00 pm

BA

Boeing's stock initially gained after the end of a 53-day strike but failed to maintain those gains. However, Boeing's bonds are performing well, with spreads tightening.

Portfolio Pulse from

November 05, 2024 | 4:45 pm

SNY

VIR

Vir Biotechnology is refocusing its pipeline on hepatitis and oncology, discontinuing vaccines and viral immunotherapy. The company is partnering with Sanofi to leverage its PRO-XTEN platform for T-cell engagers and plans a 25% workforce reduction to save $50 million annually by 2025.

Portfolio Pulse from

November 05, 2024 | 4:45 pm