Oracle recently joined Microsoft and TCS in announcing layoffs, cutting roles in its cloud division to manage soaring AI costs. Microsoft will shed around 9,000 positions, while TCS aims to eliminate 12,000 jobs, the largest in its history. Analysts project that up to 500,000 IT jobs may be at risk in the coming years due to skill mismatches amid rising automation in the industry. Ray Wang notes, "We are in the midst of a massive transition."