Streetbeat News

Labor Issues

HPQ

MDT

Medtronic announced the resignation of its EVP and CFO, Karen Parkhill, who will join HP Inc. as CFO.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 1:15 pm

NTLA

Intellia Therapeutics (NASDAQ:NTLA) has appointed Edward Dulac as the new CFO, effective July 22, 2024, succeeding Glenn Goddard. Dulac brings over 20 years of experience in finance, business development, and corporate strategy, having previously served as CFO of Fate Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 11:32 am

PL

Planet Labs PBC plans to reduce its global headcount by 180 employees, representing 17% of its total workforce. The company expects to incur non-recurring charges of $9.5 million to $10.5 million due to severance and termination benefits, mostly in the second quarter of fiscal 2025. The headcount reduction is expected to be substantially complete by the end of the fiscal year ending January 31, 2025.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 10:14 am

DIS

NFLX

The International Alliance of Theatrical Stage Employees (IATSE) has reached a preliminary agreement with the Alliance of Motion Picture and Television Producers (AMPTP), which includes major studios like Walt Disney Co and Netflix Inc. The deal includes salary increases and AI safeguards to protect jobs.

Portfolio Pulse from Shivani Kumaresan

June 26, 2024 | 10:05 am

ACRDF

CGC

CWBHF

GTBIF

MYMD

TSNDF

The article highlights recent key hires and board changes in the cannabis industry, including appointments at Canopy Growth Corporation, Acreage Holdings, Charlotte's Web Holdings, MyMD Pharmaceuticals, and board updates at TerrAscend Corp. and Nova Cannabis Inc. Wendy Berger steps down from Green Thumb Industries' board.

Portfolio Pulse from Jelena Martinovic

June 26, 2024 | 12:50 am

AGCO

DSMC

KROP

AGCO Corporation (NYSE:AGCO) shares are trading lower due to the announcement of a restructuring program aimed at addressing weakening demand in the agriculture industry. The program includes a 6% reduction in the salaried workforce and is expected to incur charges of $150 million to $200 million, with anticipated annual cost savings of $100 million to $125 million. AGCO stock has lost over 25% in the past year. Investors can gain exposure to AGCO via Global X AgTech & Food Innovation ETF (NASDAQ:KROP) and ETF Series Solutions Distillate Small/Mid Cash Flow ETF (NYSE:DSMC).

Portfolio Pulse from Nabaparna Bhattacharya

June 25, 2024 | 5:07 pm

X

Nippon Steel's $14.9 billion bid to acquire U.S. Steel faces significant opposition from the United Steelworkers union and political figures, including President Biden and former President Trump. The union is concerned about potential job losses and plant closures, despite Nippon's promises. The deal's future is uncertain, with ongoing investigations and political pressure.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:51 pm

AGCO

AGCO plans a restructuring program in response to weakening demand in the agriculture industry, expecting to reduce its salaried workforce by up to 6%. The company anticipates one-time termination benefits costs of $150 million to $200 million, with most charges incurred in 2024 and the first half of 2025. Annual cost savings are projected to be $100 million to $125 million once fully implemented.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 11:28 am

AAPL

Apple Inc. (NASDAQ:AAPL) is facing challenges in its plan to reduce its iPhone assembly workforce by up to 50% due to precision issues with robots. The move towards automation is influenced by past supply chain disruptions and labor issues, but it requires significant investment in machinery.

Portfolio Pulse from Rounak Jain

June 25, 2024 | 11:18 am

NFLX

Netflix Inc. (NASDAQ:NFLX) has updated its 'keeper test' in its corporate culture memo, adding two new questions to better evaluate employees. The test now asks managers if they would fight to keep an employee or hire them again, aiming to foster open communication and overall performance evaluation.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 5:43 am