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Labor Issues

TGB

Taseko Mines Limited reported Q2 production results of 20 million pounds of copper and 185,000 pounds of molybdenum. Production was impacted by mill downtime due to the relocation of the in-pit crusher and maintenance activities, as well as an 18-day strike by the unionized workforce in June. The in-pit crusher move and maintenance work have been completed, and Concentrator #1 is ramping up to full capacity.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 12:04 pm

SEDG

SolarEdge shares are trading lower after the company announced a workforce reduction.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 11:38 am

SEDG

SolarEdge Technologies is reducing its workforce by approximately 400 employees, including 200 in Israel, due to market downturns and excess inventory. The company is also cutting discretionary spending. The solar industry downturn, particularly in Europe, and slower-than-expected PV installation rates are impacting the business. However, there is slight growth in North American installation rates, and the company is ramping up US manufacturing capacity.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:50 am

BEAM

JPM

Beam Therapeutics Inc. (NASDAQ:BEAM) announced that CFO Terry-Ann Burrell will leave the company on August 9, 2024, to join JPMorgan Chase as vice chairman of investment banking. Beam has started searching for a new CFO.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:33 am

SSNLF

Samsung Electronics Co., Ltd. (OTC:SSNLF) employees have initiated a three-day strike demanding better pay, additional leave, and changes to the bonus system. The National Samsung Electronics Union (NSEU) represents about 30,000 members. Despite the strike, analysts believe production will remain unaffected due to low participation and automation.

Portfolio Pulse from Lekha Gupta

July 08, 2024 | 10:25 am

MSI

Motorola Solutions has opened a new R&D center in Cork, Ireland, creating 200 highly skilled jobs. This expansion is expected to enhance the company's innovation capabilities and strengthen its presence in the European market.

Portfolio Pulse from Benzinga Newsdesk

July 08, 2024 | 5:22 am

AMZN

COST

Sen. Bernie Sanders praised the French Left for their victory over right-wing extremism, attributing their success to popular policies like lowering the retirement age and raising the minimum wage. The French left coalition won the most seats but fell short of a majority, leading to a hung parliament. Sanders' support for similar policies in the U.S. aligns with growing public sentiment for higher wages and better working conditions.

Portfolio Pulse from Benzinga Neuro

July 08, 2024 | 1:20 am

GFS

GlobalFoundries is aggressively recruiting talent to meet soaring demand for semiconductors, driven by funding from the CHIPS and Science Act. The company is addressing a projected shortfall of workers by targeting veterans, workforce reentry programs, and women in construction. GlobalFoundries is also expanding its manufacturing capacity with $1.5 billion in CHIPS funding, creating thousands of jobs.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 7:40 pm

BHP

BHP (NYSE:BHP) announced a 20% reduction in employee incentives after missing performance goals, facing a $2.5 billion impairment charge on its nickel business, and additional costs from the Samarco dam disaster. The company also faces internal challenges, including labor issues and unmet gender balance goals.

Portfolio Pulse from Stjepan Kalinic

July 05, 2024 | 3:02 pm

FWRD

YELL

YRCW

Forward Air has appointed Jamie Pierson as its permanent CFO and James Faught as its Chief Accounting Officer. Pierson previously held senior roles at MV Transportation, Ecobat Technologies, and YRC Worldwide. Faught was formerly CFO at EVO Transportation and Chief Accounting Officer at Yellow Corporation.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm