The companies where layoffs are a no-go

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Good morning! Fyre Festival is back, and it’s officially got a date and location. The sequel to the infamous festival will take place from May 30 to June 2 in Isla Mujeres, Mexico. Additional details are scant, but I’m sure that’s definitely not a red flag.?

In today’s big story, the debate continues over how to respond to DOGE’s “What did you do last week?” email. (Got an opinion? We want to hear from you.)

What’s on deck

Markets: Jamie Dimon’s sorry about cursing, but he still wants you back in the office.?

Tech: AI could spell trouble for some software engineers, but it's far from a death knell for the entire profession.

Business: For these companies, layoffs are never an option.?

Top headlines:

• Starbucks is laying off 1,100 corporate staff this week.?
• Sam Bankman-Fried's long-dormant X account is alive again — and posting about DOGE and leadership advice.
• Joann plans to go out of business and close all remaining fabric and craft stores.?
• Microsoft stock slips after analysts say it canceled 2 AI data center leases, suggesting possible 'oversupply position.'?
• The agency that regulates vehicle safety — and Elon Musk's Tesla — is another target of DOGE layoffs.?
• Advertisers hit back at Rumble lawsuit in a new filing, calling it an attempt to 'weaponize' antitrust laws.?
• Grok briefly censored criticism of Musk and Trump. It was blamed on a new hire who hadn't 'fully absorbed' the startup's culture.

Curated by Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, and Elizabeth Casolo.

This is a shorter version of our flagship newsletter, which brings you in-depth analysis and summaries of the top stories from Wall Street to Silicon Valley.

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