Oracle has commenced a new round of layoffs, as confirmed by multiple sources. The layoffs were anticipated to start on Monday, with reports emerging of affected employees sharing their experiences on platforms like LinkedIn and Reddit.
The company’s strategy comes amidst efforts to reduce payroll while managing substantial debt related to investments in AI infrastructure. Internal documents suggest that cuts could be significant, affecting entire teams.
This round of layoffs follows a previous reduction in Oracle’s workforce, which saw a decline of 21,000 employees or 13% in the last fiscal year. Before this latest wave, Oracle employed around 141,000 individuals.
Despite these job cuts, Oracle is betting heavily on AI, reporting a considerable increase in capital expenditures—$28.5 billion in the first quarter alone. However, investor confidence appears shaky regarding the success of this strategy, despite some positive indicators in their cloud growth.
The situation remains fluid, with ongoing developments expected.
