Streetbeat News

Labor Issues

DLA

Delta Apparel plans to exit its DTG2Go business unit, resulting in the closure of multiple facilities and a workforce reduction of approximately 115 employees. The exit plan is expected to be completed within 120 days.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 8:17 pm

BA

Boeing CEO has announced that unionized IAM workers will definitely receive a raise.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 7:37 pm

GOOGL

UBER

WMT

California's largest business and labor groups have agreed to amend the Private Attorneys General Act (PAGA), a law that has enabled workers to sue companies like Walmart, Uber, and Google for workplace violations. This change follows years of efforts by employers to reduce the financial impact of PAGA, which has reportedly cost businesses $10 billion over the past decade.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 6:41 pm

MSFT

SONY

FromSoftware president Hidetaka Miyazaki has vowed to protect his studio from the ongoing layoffs in the gaming industry, despite mass layoffs at companies like Microsoft, Sony, and Embracer Group. Miyazaki expressed confidence that the parent company, Kadokawa Corporation, shares his views on avoiding layoffs.

Portfolio Pulse from Franca Quarneti

June 18, 2024 | 6:24 pm

SPY

Federal Reserve's Musalem stated that he is closely monitoring the labor market for any unexpected deterioration but has not observed any such signs currently.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 5:49 pm

SPY

Federal Reserve's Musalem has stated that the labor market is rebalancing, which is considered positive news. This could have implications for the broader market, including ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 5:48 pm

F

SCHD

VLUE

Ford Motor Company (NYSE:F) is planning additional job cuts in Germany, Spain, and the U.K. as part of its strategy to focus on electric vehicle production. This follows previous workforce reductions in Europe. Ford's EV sales in the U.S. have increased, but the company expects significant EBIT losses from its EV division in 2024. Ford's stock has declined over the past year, and investors can gain exposure through Schwab U.S. Dividend Equity ETF (NYSE:SCHD) and IShares MSCI USA Value Factor ETF (BATS:VLUE).

Portfolio Pulse from Shivani Kumaresan

June 18, 2024 | 5:25 pm

SPY

Fed's Kugler indicates that if wage growth continues to moderate, it will soon align with price stability. Most indicators suggest a slow, steady easing in the labor market, with supply and demand coming into better balance. Kugler is optimistic about productivity growth due to new businesses and AI. He expects some cooling of economic activity to continue and is monitoring for any signs of labor market deterioration.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 5:11 pm

SPY

Federal Reserve's Barkin states that the labor market is very strong, but inflation is still not at the target level. He also mentions that it is not hard to envision scenarios where the labor market weakens.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 2:19 pm

SPY

Fed's Barkin comments on the labor market, noting improvements but also a significant drop in the hiring rate. He is closely monitoring potential increases in layoffs.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 2:18 pm