This article first appeared on GuruFocus. Oracle Corp. (ORCL, Financials), the enterprise software and cloud computing major, has begun another wave of layoffs amid its AI expansion that increases the stakes on costs and borrowing.The new cuts began on Monday, Business Insider said, citing affected staff and an internal email. Some teams had been gearing up for double-digit percentage cuts.The cuts are part of a much wider workforce reset. Oracle's headcount declined by 21,000, or 13 percent, in the fiscal year ending May 31.The corporation had roughly 141,000 workers before the latest round. The timing is important since Oracle is pouring money into the infrastructure needed for its developing AI and cloud business.
We show the main point publicly. Create a free account to continue reading the full article, save it, discuss it, and connect it with market and OSINT context.