Oracle begins new layoff round as AI spending increases debt - Report

Investing.com -- Oracle Corp (NYSE:ORCL) has begun a new round of job cuts, according to three affected employees and an email obtained by Business Insider The layoffs started on Monday, as expected by a source familiar with the matter. An Oracle spokesperson did not immediately respond to requests for comment. Business Insider reported last month that the company had prepared plans for new job reductions to lower payroll costs while accumulating billions in debt to finance AI infrastructure. The planned cuts reached double-digit percentages on some teams, according to an internal document. Posts appeared on LinkedIn, Reddit, and Blind on Monday from people claiming to have been affected by the latest cuts.