Warner Bros. Discovery shareholders have approved Paramount Skydance's takeover bid, moving the massive Hollywood merger a step closer to completion. It's not a done deal quite yet, though, as it still faces regulatory scrutiny and fierce opposition from critics who warn it will further concentrate media power. The Associated Press reports: Per a preliminary vote count Thursday, Warner Bros. Discovery said the overwhelming majority of its stakeholders voted in support of selling the entire business to Skydance-owned Paramount for $31 a share. Including debt, the deal is valued at nearly $111 billion based on Warner's current outstanding shares. That means Warner-owned HBO Max, cult-favorite titles like "Harry Potter" and even CNN could soon find themselves under the same roof with Paramount's CBS, "Top Gun" and the Paramount+ streaming service. David Zaslav, CEO of Warner Bros. Discovery, said in a statement that stockholder approval marks "another key milestone toward completing this historic transaction." Paramount added that it looks forward to closing in the coming months, and "realizing the creation of a next-generation media and entertainment company." [...] Meanwhile, Warner shareholders rejected a separate measure Thursday outlining post-merger payments for company executives.

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Meta is reportedly cutting about 10% of its workforce, or roughly 8,000 jobs, while closing thousands of open roles it had intended to fill. "We're doing this as part of our continued effort to run the company more efficiently and to allow us to offset the other investments we're making," said Janelle Gale, Meta's chief people officer. The company had almost 79,000 employees at the start of the year. Quartz reports: Meta CEO Mark Zuckerberg has poured resources into building out AI capabilities, directing spending toward model development, chatbot products, and the engineering talent to support them. Meta set its 2026 capital expenditure guidance at $115 billion to $135 billion, almost double the $72 billion it spent in 2025. Employees have been encouraged to use AI agents internally for tasks such as writing code. The early disclosure, Gale explained, was prompted by the fact that information about the cuts had already made its way into press reports before the company was ready to announce. "I know this is unwelcome news and confirming this puts everyone in an uneasy state, but we feel this is the best path forward, given the circumstances," she wrote. According to the memo, severance for affected workers in the United States will cover 18 months of COBRA health insurance premiums, along with a base pay component of 16 weeks that increases by two weeks for each year of service. Departing employees will have access to job placement assistance and, where applicable, help navigating immigration status. Packages outside the U.S. will vary by country. Meta cut between 10% and 15% of its Reality Labs workforce in January, shut down several VR game studios, and shed about 700 positions across at least five divisions in March.

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Microsoft plans to offer voluntary buyouts for the first time. According to CNBC, "about 7% of U.S. employees are eligible," with the program being "available to U.S. workers at the senior director level and below whose years of employment and age add up to 70 or higher." Further details will be provided on May 7. From the report: Last year Microsoft removed some costs through multiple rounds of layoffs. As of June 2025, the company had 228,000 employees. "Our hope is that this program gives those eligible the choice to take that next step on their own terms, with generous company support," Amy Coleman, Microsoft's executive vice president and chief people officer, wrote in a memo viewed by CNBC. Additionally, Microsoft is adjusting the way it doles out stock to employees for annual rewards. The company will no longer make managers tie stock directly to cash bonuses. This way, "managers have more flexibility to meaningfully recognize high performance," Coleman wrote. The company is also simplifying the review process for managers, so they can choose from five pay options for employees instead of nine.

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An anonymous reader quotes a report from Reuters: Tesla CEO Elon Musk said on Wednesday the EV maker plans to use Intel's next-generation 14A manufacturing process to make chips at its Terafab project, an advanced AI chip complex Musk has envisioned in Austin. The contract would mark Intel's first major customer for the technology, a breakthrough for the chipmaker which has struggled to stand up its contract manufacturing business essential for taking on top rival TSMC. Intel CEO Lip Bu Tan has said that the company would exit the chip manufacturing business altogether if it failed to secure an external customer. Intel has previously said it was in discussions with large customers about 14A, but has not yet disclosed a major external customer. It declined to comment on Musk's remarks. [...] "Given that by the time Terafab scales up, 14A will be probably fairly mature or ready for prime time," Musk said. "14A seems like the right move, and we have a great relationship with Intel," he said. Ben Bajarin, head of technology consultancy Creative Strategies, said that Intel's 14A technology could "turn out to be a bigger deal for Intel than folks thought." "It's important to have multiple partners as early design partners to help clean the pipe and work through needed learnings at the leading edge. They will definitely have scale, so a great first non-Intel customer," Bajarin said. Seaport Research Partners analyst Jay Goldberg said Musk's vote of confidence in Intel's technology outweighed the unknowns about the Terafab project. "Having a customer is more important than the timing," he said. Goldberg said that Musk's lofty estimates of how many chips its robots could one day require may or may not materialize, but even making chips for Tesla's existing businesses would be a significant win for Intel. "It's not equivalent to Apple or Nvidia" in terms of chip volumes, Goldberg said. "But it's a real customer. It can be real volumes."

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