Oracle cut 21,000 jobs in the past year, reducing its workforce by 12.9% to 141,000 employees, according to a Securities and Exchange Commission 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 strategy to channel savings into debt-financed artificial intelligence investments.
Oracle Lays Off 21,000 Workers to Fund Debt-Fueled AI Investments
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