Wall Street Breakfast Tech, Media Giants Slash More Jobs
Jun 3, 2025
Microsoft has confirmed over 300 layoffs, while Disney plans to cut hundreds more jobs. The podcast delves into the implications of these job reductions across various sectors. Additionally, it explores record labels considering licensing music to AI companies in an effort to resolve legal disputes. The discussion also highlights key market movers and the latest trade negotiations ahead of an important tariff deadline.
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Microsoft's Ongoing Layoffs
- Microsoft laid off over 300 more staff shortly after announcing 6,000 job cuts last month.
- The company's global workforce reduction is targeting 3%, with specifics on departments still unclear.
Disney Job Cuts Affect Entertainment Units
- Disney is cutting several hundred jobs globally, mainly impacting entertainment marketing, TV publicity, casting, and development.
- These cuts follow a 6% workforce reduction in March affecting ABC and Disney Entertainment.
Record Labels Licensing Music To AI
- Top record labels are negotiating licensing deals with AI music startups to resolve copyright disputes.
- Labels seek fees and equity while AI firms want flexibility and fair pricing for using their music to train generative models.