Streetbeat News

Labor Issues

DE

Deere & Co has resolved alleged hiring discrimination claims by the U.S. Department of Labor, agreeing to pay $1.1 million in back wages and interest to affected Black and Hispanic jobseekers.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 5:09 pm

SPY

Unit Labor Costs for Q1 increased by 4%, which is lower than the estimated 4.7%.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:30 pm

PGY

Pagaya Technologies LTD. (NASDAQ: PGY) has raised its 2024 Adjusted EBITDA guidance to $160M-$200M, an increase of $10M from its previous outlook. The company is implementing operational initiatives expected to reduce annual core operating expenses by approximately $25M, including a workforce reduction. These savings will be partially reinvested in key growth areas.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:04 pm

SPY

US-based employers announced 63,816 job cuts in May, which is a 20% decrease compared to previous months. This reduction in job cuts could indicate a stabilizing job market.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 11:30 am

AMZN

The Amazon Labor Union has formally affiliated with the International Brotherhood of Teamsters. Members will vote on ratification in the coming weeks. The new Local 1 will represent approximately 8,000 Amazon warehouse workers.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 5:00 pm

AAL

American Airlines' CEO announced that the company has offered flight attendants a 17% immediate wage increase and a new profit-sharing formula for 2024. While progress has been made in contract negotiations, there is still significant work to be done.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 4:59 pm

AMZN

TGT

VDC

WMT

XLP

Walmart Inc. (NYSE:WMT) has announced annual bonuses of up to $1,000 for eligible hourly U.S. store workers, including part-time and full-time associates. This initiative aims to enhance wages for approximately 700,000 front-line employees. Additionally, Walmart introduced the 'Associate to Technician' certification program to help employees transition to higher-paying technical roles. The company aims to increase its technician workforce from 450 to 2,000 over the next two years. Walmart's stock has gained more than 33% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

June 05, 2024 | 3:40 pm

MELI

MercadoLibre plans to hire 11,000 people in Brazil this year, up from the initial plan of 6,500, indicating significant expansion in the region.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 3:26 pm

TM

Toyota is investing $282 million to expand its Huntsville plant in Alabama, creating 350 new jobs. This expansion aims to increase production capabilities.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 3:16 pm

AAL

JETS

American Airlines' union is preparing for a potential strike and has opened a strike command center, despite flight attendants lacking the legal right to strike.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:13 pm