"The email, obtained by the outlet, pointed to company's restructuring as the reason for the cuts. 'We are sharing some difficult news regarding your position,' the email read. 'After careful consideration of Oracle's current business needs, we have made the decision to eliminate your role as part of a broader organizational change.'"
"Earlier this month, Bloomberg reported that Oracle, headquartered in Austin, Texas, was preparing for mass layoffs as it looks to expand its AI power. According to the outlet, Oracle is planning to build new data centers to increase AI work for customers like OpenAI."
"The reported layoffs come after another round already hit the company last year, cutting more than 200 jobs for workers in the Bay Area, particularly software developers."
Oracle is undergoing significant layoffs, reportedly in the thousands, as part of a restructuring effort. Employees received abrupt notifications about their job eliminations, citing the company's current business needs. The layoffs coincide with Oracle's plans to invest in artificial intelligence and build new data centers to enhance AI capabilities for clients like OpenAI. Despite the job cuts, Oracle's quarterly revenue has increased by 22%, with a net income of $3.7 billion, indicating a strong financial position.
Read at SFGATE
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