ESG Top Movers

Week ending February 12th, 2023

Tech layoffs continue, with some well-known media companies joining the trend this week. A major product recall in the US, a class action suit over a chemical contamination, and legal issues for one of Europe's biggest football clubs also among the top ESG movers of the week.

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
Dell Technologies Inc.

layoffs

Dell Technologies Inc will eliminate about 6,650 jobs, or about 5% of its global workforce, given low demand for its personal computers.
eBay Inc.

layoffs

Ebay plans to cut 500 jobs, or about 4% of its workforce, according to a filing with the SEC.
Zoom Video Communications Inc.

layoffs

Zoom: The video-conferencing service is cutting about 1,300 jobs, or approximately 15% of its workforce
Yahoo Inc.

layoffs

Yahoo plans to lay off more than 20% of its total 8,600 workforce as part of a major restructuring.
Colgate-Palmolive Co.

product-recall

Colgate-Palmolive recalled about 4.9 million bottles of cleaning bottles in the U.S. over a risk of bacteria contamination
The Walt Disney Co.

layoffs

Walt Disney Co. will cut about 7,000 jobs as part of a “significant transformation” announced by CEO Bob Iger.
GitHub Inc.

layoffs

Microsoft-owned GitHub is laying off 10% of its employees and goes fully remote.
News Corp.

layoffs

Rupert Murdoch's News Corporation is slashing 1250 jobs after a sharp drop in second-quarter earnings.
Norfolk Southern Corp.

legal-issues-defendant

Norfolk Southern Railway Co. faces a class action after a train derailment that led to a contamination with toxic chemicals around East Palestine, Ohio.
Manchester City PLC

legal-issues-defendant

Premier League charges Manchester City over alleged financial rule breaches

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