Oracle Begins New Round of Job Cuts as AI Infrastructure Spending Rises – Report

Oracle Corp (NYSE:ORCL) has begun another round of job cuts, Business Insider reported on Monday, citing three affected employees and an email obtained by the publication. The layoffs began on Monday, in line with expectations from a source familiar with the matter, according to the report. An Oracle spokesperson had not responded to a request for comment at the time of publication. Business Insider reported last month that Oracle had prepared plans for additional workforce reductions as it sought to lower payroll costs while taking on billions of dollars of debt to finance artificial intelligence infrastructure. An internal document cited by the publication indicated that planned reductions amounted to double-digit percentages in some teams.