Marc Filippino

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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 Filippino, and here's the news you need to start your day.

Meta announced yesterday it's cutting 10% of its workforce next month.

That's about 8,000 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 7% of its U.S.

staff.

And like Meta, it's also on the back of a big AI bet.