CNBC Business News Update Market Open: Stocks Mixed, Microsoft Cuts Hundreds More Workers, Klarna Credit Card Coming 6/3/25
Jun 3, 2025
Dive into the mixed performance on Wall Street, with notable gains in the Dow and Walmart amidst declines in other indices. Microsoft is making headlines again with significant layoffs tied to AI advancements. Also, Klarna is launching a new debit card for easier payment flexibility. The podcast tackles the implications of student loan repayments on Social Security benefits and sheds light on changing educational policies. Finally, explore the trend of multiple job holders navigating today's economic landscape.
AI Snips
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Transcript
Episode notes
AI Drives Microsoft Layoffs
- Microsoft's continued layoffs are driven by automation and AI replacing certain jobs.
- Despite their strong business, machines can be deemed more efficient than some employees.
Klarna's Debit Card Moves
- Klarna is diversifying beyond buy-now-pay-later with a new debit card launching June 3, 2025.
- The card combines real-time transfers, deposits, and payment flexibility to compete with big banks.
Student Loan Garnishments Paused
- Nearly half a million older Americans won't see Social Security reductions due to paused student loan garnishments.
- The Department of Education reversed a policy to garnish Social Security for defaulted student loan repayment.