Oracle Faces Continued Layoffs amid AI Transformation Costs
Tech giant Oracle is undergoing yet another round of layoffs, significantly impacting its workforce, particularly in India. Reports indicate that up to 2,500 employees may be affected as the company seeks to offset increasing costs associated with its AI transformation, which includes an additional $700 million allocated for restructuring. Employees received distressing notifications in the early hours, some stating ‘Today is your last working day’. The emotional toll is evident, with stories of dedicated employees who worked through major festivals and health challenges only to be laid off after years of service. This restructuring comes as Oracle balances its rapid AI initiatives with the financial implications of job cuts, having previously shed 21,000 positions in the past year.
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