Massive lay-off: Oracle may fire up to 30,000 employees - Here's why
Oracle faces massive job cuts, potentially 20,000-30,000, to fund its costly $300 billion OpenAI partnership. The tech giant has already incurred significant debt for AI data centers, with its stock value plummeting. US banks are hesitant to finance Oracle's projects, forcing the company to seek upfront customer payments and consider selling its Cerner unit.
Oracle faces massive job cuts, potentially 20,000-30,000, to fund its costly $300 billion OpenAI partnership. The tech giant has already incurred significant debt for AI data centers, with its stock value plummeting. US banks are hesitant to finance Oracle's projects, forcing the company to seek upfront customer payments and consider selling its Cerner unit.
