Oracle Prepares for New Round of Mass Layoffs
Oracle is reportedly planning a new round of mass layoffs, with sources indicating that employees may receive notification emails in the coming days. This follows previous instances of significant job cuts at the IT giant.
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Oracle has drawn up plans for a new round of layoffs this month, sources say
Oracle cofounder and chairman Larry Ellison. Justin Sullivan/Getty Images Oracle has drawn up plans for job cuts this month, according to insiders and a document. The company has been racking up billions in debt to fund its AI infrastructure buildout. The cuts could reach double-digit percentages on some teams. Oracle has drawn up plans for a new round of job cuts to reduce payroll as it racks up billions in debt to fund AI infrastructure, according to people familiar with the plans and an ...
Read full article →Oracle layoffs: Company's '6 am layoff emails' may return in next few days
Oracle is preparing another round of layoffs this month, with cuts reaching double-digit percentages on some teams and managers already asked to name affected employees. The company wants payroll reduced before its second quarter starts on September 1. Oracle has already shed 21,000 jobs in a year, down to 141,000 staff, as it funds a debt-heavy AI data centre buildout that burned $23.7 billion in cash last fiscal year.
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