Starbucks' largest workers' union announced that it would strike in three major cities on Friday.The Starbucks Workers United union said that stores in Los Angeles, Chicago, and Seattle would participate.The union said it was protesting Starbucks' unfair labor practices and low wages.Starbucks' largest workers union announced that it would go on strike in Los Angeles, Chicago, and Seattle, where it is headquartered, just days ahead of Christmas.Advertisement On Wednesday, the union told BI that it would st ...

Group 1 - The company has cut the number of managers, directors, and vice presidents by 10% as part of its efficiency drive [1][3][4] - The efficiency initiative has been ongoing for over two years, with a goal to increase efficiency by 20% [4] - The company has faced competition from AI rivals like OpenAI, prompting the need for these efficiency measures [5][6] Group 2 - The reduction in management roles has included transitions to individual contributor roles and some role eliminations [4] - The company has introduced generative AI features into its core businesses, including a new AI video generator and a set of Gemini models [6] - The CEO emphasized the need to update the concept of "Googleyness" to align with a modern Google [6]

Core Viewpoint - FedEx is spinning off its freight business into a new publicly traded company called FedEx Freight, allowing the company to focus on its parcel shipping services amid slowing demand in the express delivery market [1][2][3][5]. Group 1: Company Strategy - The separation of FedEx Freight from FedEx will occur over the next 18 months [1][3]. - The new company, FedEx Freight, will specialize in handling large cargo, while FedEx will continue to manage parcel shipping, which is more familiar to consumers [3]. - CEO Raj Subramaniam stated that this process aims to unlock value for the Freight business and enhance value for stockholders [4]. Group 2: Financial Performance - FedEx has reduced its profit estimates for the 2025 fiscal year, citing a "challenging demand environment" [5]. - The company reported lower-than-expected revenue and profit from FedEx Freight due to sustained weakness in US industrial production, which has negatively impacted demand in the less-than-truckload industry [5]. - Following the announcement of the spinoff, FedEx shares increased by approximately 9% in after-hours trading [3]. Group 3: Market Trends - The express delivery sector, including FedEx and its competitor UPS, has experienced decreased demand for next-day shipping as customers opt for more cost-effective slower shipping options [6].

Amazon workers at several warehouses went on strike on Thursday.The strike comes in the middle of Amazon's key holiday shopping and shipping season.Amazon said that it wasn't seeing an impact on its operations.Amazon workers at seven Amazon fulfillment centers went on strike Thursday, though the retailer said it wasn't seeing effects on its holiday delivery operations.Advertisement The workers are walking off the job after Amazon refused to bargain with them over a contract, according to a statement from t ...

Apple is looking to integrate AI in iPhones sold in China via local partnerships, Reuters reported.Regulatory barriers in China mean Apple is required to partner with domestic AI companies.Apple has faced increasing local competition in one of its key markets.Apple is in early-stage talks with Tencent and ByteDance to integrate their AI models into iPhones sold in China, Reuters reported.Advertisement The move could be a way for Apple to introduce AI to mobile devices in China after the country blocked its ...

Starbucks CEO Brian Niccol has talked about improving conditions for baristas.A potential strike at some Starbucks stores represents a test on that front for the new CEO.Niccol has made some operational changes, but Starbucks Workers United wants better pay.Starbucks CEO Brian Niccol has talked about improving working conditions for the company's baristas.Advertisement Now, as thousands of them prepare for a potential strike, Niccol faces a test of that commitment.Baristas who are part of Starbucks Workers ...

Boeing has resumed the production of the 767 and 777 as it gets back online after a lengthy strike.Following the end of the strike, the aviation giant had already restarted 737 production.Boeing has had a troubled 2024 after a midair blowout in January shone a light on its quality control.Boeing has resumed its production across its range of aircraft in the Pacific Northwest factories as it gets back online following its lengthy and costly strike.Advertisement The aviation giant, which had already resumed ...

Core Points - Starbucks Workers United, the largest union representing over 10,000 baristas, has authorized a nationwide strike with 98% of its members voting in favor due to unresolved unfair labor practice cases and inadequate pay proposals from the company [2][4] - Starbucks expressed disappointment regarding the union's decision to consider a strike, emphasizing that productive negotiations had taken place, resulting in thirty meaningful agreements since April [3][8] - The company is facing challenges, including a 7% decline in comparable sales year-over-year and a 3% decrease in net revenue to $9.1 billion [8][9] Union and Strike Details - The union's strike authorization is a response to hundreds of unresolved unfair labor practice cases and the company's failure to present a comprehensive pay package during negotiations [2][3] - In June 2023, over 150 unionized stores previously went on strike to protest the company's treatment of LGBTQIA+ workers, indicating ongoing tensions between the union and the company [5] Company Policies and Financial Performance - Starting in March, Starbucks will enhance its parental leave policy, offering up to 18 weeks of paid leave for birth parents and up to 12 weeks for non-birth parents, addressing employee feedback on existing benefits [6][7] - The company operates 11,161 company-operated stores and 7,263 licensed stores in North America, with approximately 4.5% of these stores being unionized as of October [4]

AT&T is requiring many office employees to work on-site a full five days a week starting in January.The telecom giant previously accommodated a hybrid schedule in its return-to-office push.The news comes as Amazon has delayed some RTO plans due to capacity issues.AT&T's return-to-office mandate is set to get more strict in the new year.Advertisement The Dallas-based telecom giant confirmed to Business Insider that it is requiring all office employees to work on-site five days a week starting in January. Th ...

Core Viewpoint - Nissan and Honda are exploring a merger to enhance their competitiveness in the electric vehicle (EV) market, responding to challenges posed by Tesla and Chinese manufacturers [1][2][4]. Group 1: Merger Considerations - The potential merger aims to strengthen the existing ties between Nissan and Honda, allowing them to pool resources and increase their market power [1][2]. - Both companies have confirmed they are in negotiations regarding the merger, marking a significant shift from their previous rivalry [2][5]. Group 2: Market Reaction - Following the news of the merger discussions, Nissan's stock surged nearly 22% on Tuesday, although it later settled at an 11% gain after hours [3]. - In contrast, Honda's shares experienced a decline of approximately 1.3% after the merger news was confirmed [5]. Group 3: Context and Background - The merger talks come in the wake of Nissan's struggles with falling profits and a significant workforce reduction of 9,000 jobs globally in November [3]. - Earlier in the year, Honda and Nissan had already agreed to collaborate on EV batteries and software, indicating a move towards greater cooperation [4]. - Nissan's CEO, Makoto Uchida, acknowledged the need for partnerships to enhance competitiveness, highlighting the limitations of going it alone in the current market [5].