ESG Top Movers

Week ending January 29th, 2023

This week, we saw the wave of tech layoffs continuing, with a few manufacturing companies also announcing job cuts.

It's often difficult to follow all the news to build a complete picture about a company, particularly when events are less reported. Yet published research has identified how selecting stocks and bonds with low controversy profile captures more alpha and lowers risk.

Leveraging local and global newswire coverage, the RavenPack controversy framework allows investors to identify companies involved in controversial events. Each week we publish a selection of controversy identified on a different universe.

Company
Category
Momentum
Event
Spotify Technology S.A.

layoffs

Spotify, the audio streaming platform, cuts 6% of its workforce.
Hasbro Inc.

layoffs

Toymaker Hasbro, the company behind Monopoly, Play-Doh and My Little Pony toys is cutting about 1,000 jobs, or 15% of its global full-time workforce.
Dow Inc.

layoffs

Materials science company Dow is cutting about 2,000 jobs, or approximately 5% of its global workforce.
International Business Machines Corp.

layoffs

IBM announced it will shed 3,900 workers or 1.5% of it's total workforce.
3M Co.

layoffs

3M, maker of Post-it notes, industrial coatings and ceramics, is cutting about 2,500 manufacturing jobs worldwide.
SAP SE

layoffs

Sofware company SAP is cutting up to 3000 jobs worldwide, or about 2.5% of its workforce, after a steep drop in profits.
Newell Brands Inc.

layoffs

Sharpie and Rubbermaid's parent company, Newell Brands, is laying off 13% of its office staff.
Argo Blockchain PLC

legal-issues-defendant

A class action lawsuit has been filed against Argo Blockchain plc (NASDAQ: ARBK). The lawsuit alleges the company misled investors in its Offering Documents and throughout the Class Period.
Goodyear Tire & Rubber Co.

layoffs

Goodyear tire and rubber company will cut about 500 jobs, roughly 5% of its total workforce.
Uber Freight LLC

layoffs

Uber Technologies (NYSE:UBER) is cutting 150 jobs at its freight division, 3% of it's total number of employees globally.

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