Oracle's 21,000 Job Cuts Support Debt-Financed AI Push

Oracle laid off 21,000 workers in its fiscal year ending May 31, reducing its full-time workforce by 12.9% to 141,000 employees, according to a Securities and Exchange Commission filing. The company stated that the adoption and deployment of AI technologies led to the reductions. These layoffs are helping to fund Oracle's debt-fueled investments in artificial intelligence.