ESG Top Movers

Week ending February 5th, 2023

More tech layoffs, a $1.5 million fine, a major product recall and a lost radioactive capsule - among the week's most controversial corporate developments.

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
PayPal Holdings Inc.

layoffs

Online payments provider PayPal announced plans to lay off about 2,000 employees, roughly 7% of its staff.
GoodRx Inc.

sanctions-target

The Federal Trade Commission fined the telehealth and prescription drug discount provider GoodRx Holdings Inc. with $1.5 million. The sanction comes after the company shared users' personal health data with Facebook, Google and other third parties, without consent.
Rio Tinto Ltd.

apology

Mining giant Rio Tinto apologized after the loss of a small radioactive device in Australia.
Glovoapp23 SL

layoffs

Home delivery company Glovo will fire 250 employees, 6.5% of its workforce.
Match Group Inc.

layoffs

Match Group Inc, which owns dating platforms Tinder, Hinge, and OkCupid, among others, to lay off 200 people, about 8% of its employees.
NetApp Inc.

layoffs

Cloud data services compnay NetApp to reduce worldwide headcount by approximately 8% (960 employees).
Conagra Brands Inc.

product-recall

Conagra recalls nearly 2.6 million pounds of canned meat and poultry.
Pinterest Inc.

layoffs

Image sharing and social media website Pinterest inc is laying off about 150 employees, or 5% of its total workforce.
Rivian Automotive Inc.

layoffs

Rivian Automotive, a manufacturer of electric trucks, announced it's laying off 6% of its workers
YouTube Inc.

strike

Several teams of subcontracted YouTube workers went on strike on Friday, to protest a return-to-office policy.

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