Tech, Media Giants Slash More Jobs
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 3 June 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | It's great to have you here on this Tuesday, June 3rd. I'm Julie Morgan. More job cuts at Microsoft. |
| 0:15.2 | We're also talking about layoffs at Disney, and AI may strike a chord with record labels. Microsoft has laid off |
| 0:24.5 | hundreds more only weeks after announcing its largest layoff in years. Bloomberg News reported |
| 0:30.7 | that more than 300 staff were informed that their positions had been eliminated on Monday, |
| 0:36.7 | as per Washington State Notice reviewed by the news agency. |
| 0:41.1 | Microsoft did not immediately respond to a request for comment from seeking Alpha. |
| 0:46.5 | A Microsoft spokesperson told the media outlet that the latest job cuts were in addition to the 6,000 headcount reduction announced last month. It is unclear which |
| 0:56.6 | departments were affected. Last month, it was reported that Microsoft plans to reduce its global |
| 1:02.3 | workforce by 3%. More layoffs to tell you about, but this time at Disney. The media company |
| 1:09.9 | is laying off employees which will impact |
| 1:12.2 | several hundred globally, according to a deadline report. The majority of layoffs are in the Disney |
| 1:18.2 | entertainment units, including marketing for both film and television, as well as television |
| 1:23.5 | publicity, casting, and development. Also affected Disney's corporate financial operations. |
| 1:30.6 | Sources told deadline the size of the cuts on the film and TV side of Disney Entertainment is |
| 1:36.4 | comparable. The majority of the Disney Entertainment television staffers are said to be based in L.A. |
| 1:42.3 | Back in March, the company trimmed its total workforce by 6%, |
| 1:46.5 | which impacted almost 200 positions at ABC and Disney Entertainment. And is AI getting a record deal? |
| 1:55.5 | Well, I'll let you be the judge. The top three record labels, Universal Music Group, Warner Music, and Sony Music are in talks to |
| 2:03.5 | license their music with AI startups, Udio and Suno. Bloomberg reported citing people familiar |
| 2:11.0 | with the discussions that the record labels are seeking license fees for their work and |
| 2:16.1 | some equity in Suno and Udio, which use generative |
... |
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