BP’s major setback
4/24/202613 min
Meta will cut 10% of its staff next month, BP suffered a heavy defeat at its annual shareholder meeting, and the Paramount–Warner Brothers Discovery deal is one step closer to being sealed. Plus, the Trump family’s crypto company is in hot water, and a US official is vying to get Italy into the football World Cup.
Mentioned in this podcast:
Meta to cut 10% of jobs to ‘offset’ Mark Zuckerberg’s AI spending
Microsoft to offer 7% of US staff voluntary redundancy for the first time
BP suffers heavy defeat in investor climate vote
Crypto billionaire Justin Sun sues Trump family’s World Liberty Financial
Warner Bros shareholders approve $111bn Paramount deal
Trump envoy seeks to replace Iran with Italy in football World Cup
Note: The FT does not use generative AI to voice its podcasts
Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Saffeya Ahmed and Fiona Symon. Our show was mixed by Sam Giovinco. Additional help from Michela Tindera, Gavin Kallmann, and Michael Lello. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsMark Filippino· Host0:00
[intro music] Good morning from the Financial Times. Today is Friday, April 24th, and this is your FT News Briefing. Big tech jobs took a hit yesterday, and BP ruffled some feathers at its annual meeting. Plus, the Trump family is now in a legal spat with a crypto tycoon. We'll take a look at how the relationship fell apart. I'm Mark Filipino, and here's the news you need to start your day. [intro music] Meta announced yesterday it's cutting ten percent of its workforce next month. That's about eight thousand jobs, and it's to offset a huge spending spree on AI. CEO Mark Zuckerberg has spent billions on the technology. The company said in a memo to staff yesterday that the layoffs are also meant to, quote, "run the company more efficiently." Along the same lines, Microsoft announced that it's offering voluntary redundancy to seven percent of its US staff. And like Meta, it's also on the back of a big AI bet. Microsoft cut more than fifteen thousand jobs last year. [music] BP didn't get a ton of love at the oil major's annual meeting yesterday. Management put forward two special resolutions for shareholders to vote on. They both failed by a long shot. BP is facing mounting pressure from