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Oracle Plans Thousands of Job Cuts in Face of AI Cash Crunch
(Bloomberg) — Oracle Corp. is planning to ax thousands of jobs, among its moves to handle a cash crunch from a massive AI data center expansion effort.
The job reductions will affect divisions across the company and may be implemented as soon as this month, according to people familiar with the matter who asked not to be named discussing the still-private plans. Some of the cuts will be aimed at job categories that the company expects it will need less of due to AI, two of the people said.
Led by Chairman Larry Ellison, Oracle is embarking on a historic build-out of data centers to power AI workloads for customers such as OpenAI. The company, long known for its database software, has been making a transition the past few years to bulk up its cloud computing unit with a focus on AI, intending to become a viable competitor to market leaders Amazon.com Inc. and Microsoft Corp.
Oracle to cut ‘thousands’ of jobs, reports Bloomberg
Oracle will cut thousands of jobs to funnel funds into its major AI data centre expansion efforts, according to Bloomberg.
The cuts will affect divisions across the company and may come as soon as this month, the publication said. Some of the cuts might target jobs that Oracle needs less due to AI.
Latest data shows that Oracle employs around 162,000 globally, with around 900 workers situated in Ireland.
Last September, the company revealed plans for its largest-ever restructuring, set to cost up to $1.6bn. At the time, Oracle’s Irish arm sent a collective redundancy notification to the Government.
SiliconRepublic.com has contacted Oracle for details on the latest layoffs and its effects in Ireland.
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