ORACLE BEGINS CUTTING THOUSANDS OF JOBS – More than 70 tech companies have cut around 40,480 jobs so far this year
Cloud computing company Oracle is laying off thousands of employees, it is now being reported.
The company declined to comment on the job cuts, although several social media users shared details on platforms such as Reddit, X and anonymous workplace network Blind, triggering uncertainty and confusion among employees.
The layoffs come amid Oracle’s aggressive push to ramp up spending on artificial intelligence infrastructure to better compete with rivals, such as Alphabet and Amazon that also offer cloud services.
More than 70 tech companies have cut around 40,480 jobs so far this year, heightening fears of AI-driven disruption among workers.
