Oracle is set to implement thousands of job cuts due to rising expenses linked to its expansive AI data centre projects. The company, which is under financial pressure despite a $300 billion agreement with OpenAI, aims to raise between $45 billion and $50 billion this year to support its cloud infrastructure. The layoffs will affect various divisions and aim to address roles anticipated to decline due to AI, marking an unprecedented scale for Oracle.
Oracle is set to implement thousands of job cuts due to rising expenses linked to its expansive AI data centre projects. The company, which is under financial pressure despite a $300 billion agreement with OpenAI, aims to raise between $45 billion and $50 billion this year to support its cloud infrastructure. The layoffs will affect various divisions and aim to address roles anticipated to decline due to AI, marking an unprecedented scale for Oracle.