Oracle Conducts Global Layoffs to Curb Costs Amid AI Buildout
Oracle has initiated a round of global layoffs, affecting employees in various regions including India and the US, as the company seeks to curb costs during its artificial intelligence buildout.
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Oracle lays off employees as it curbs costs during AI buildout
Oracle CEO Larry Ellison. Anna Moneymaker/Getty Images Oracle laid off some employees on Tuesday, according to two employees and LinkedIn posts. The cuts come as Oracle is trying to cut costs. The company's stock has dropped nearly 30% this year as AI fears have driven a software sell-off. Oracle started laying off employees on Tuesday, according to two affected workers and several social media posts. The cuts appear to have affected employees globally, but the full extent of the layoffs co...
Read full article →Oracle layoffs: Employees in India, US, & other regions receive email at 6am
Oracle has started laying off employees across its global offices, with workers receiving termination emails at 6AM from "Oracle Leadership" informing them their roles had been eliminated. Teams like RHS, SVOS, and NetSuite IDC were among the first hit. The job cuts could hit 20,000 to 30,000 people—roughly 18% of Oracle's workforce—as the company looks to free up cash for its AI data centre push.
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