Good morning. The people at the top are getting richer, the people in the middle are getting cut, and the machines are taking over.

On The Money Today:

  • Oracle cut up to 30,000 workers by email — then gave its new CFO $26M in stock

  • Trump wants to cut 9,400 TSA jobs and hand airport security to private contractors

  • Jay Leno just became the first outsider to drive the Tesla Semi — and the results may surprise you

Let’s get into it.

Oracle cut up to 30,000 workers by email — then gave its new CFO $26M in stock

Days after Oracle fired up to 30,000 employees via a 6 a.m. email, the company handed its brand new CFO a $26 million stock package. The timing raised eyebrows — but what really has people talking is how Oracle chose who to cut. A 30-year company veteran says it wasn't random. She believes an algorithm quietly targeted employees with outstanding stock options. Meanwhile, Oracle posted a 95% profit jump the same quarter and filed thousands of H-1B visa petitions to bring in new foreign workers to replace them. The company declined to comment.

Behind the Cuts

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Trump wants to cut 9,400 TSA jobs and hand airport security to private contractors

Weeks after TSA workers went unpaid and security lines stretched for hours, Trump is proposing to slash $1.5 billion from the agency's budget and replace thousands of federal screeners with private contractors. Is it a smarter system — or a riskier one?

Should You Be Worried?

Jay Leno just became the first outsider to drive the Tesla Semi — and the results may surprise you

The truck has been sitting in Tesla's pipeline for years. Now it's real, it's hitting the road, and one of America's most famous gearheads just got behind the wheel. What he found could change what you pay for almost everything.

See the Verdict

MORE FROM MONEYWISE

BUDGETING: Walmart or Costco — one store was nearly 26% cheaper and the results may surprise you

RETIREMENT: You've been told to save more — but nobody warned you about this 401(k) trap

NEWS: A warehouse worker filmed himself setting his employer's facility on fire — here's what he said while doing it

RETIREMENT: Nearly half of Americans are making the same Social Security mistake — Dave Ramsey says the fix is simple

That’s it for today. See you soon with another quick roundup of the financial news that matters.

Today’s newsletter was written by Shirley Sze and edited by Rudro Chakrabarti. Stories by Brian Baker, Rudro Chakrabarti, Vishesh Raisinghani, Rebecca Payne, Genna Buck, Laura Boast and Emma Caplan-Fisher.

*Not investment advice. Crypto trading involves risk of loss. View legal disclosures at kraken.com/legal/disclosures.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Geographic restrictions may apply. Cryptocurrency services are provided to US and US territory customers by Payward Interactive, Inc. (“PWI”) dba Kraken, a FINCEN registered money services business, a subsidiary of Payward, Inc. View PWI’s disclosures here.

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