Oracle Lays Off 21,000 Workers, Citing AI Adoption to Fund Debt-Fueled Investments

Oracle reduced its workforce by 21,000 employees, a 12.9% drop, over the past year, according to its annual SEC filing. The company attributed the layoffs to the adoption and deployment of AI technologies across its operations. The job cuts are part of Oracle's broader strategy to free up capital for its debt-fueled AI investments.