"Oracle has begun making employees redundant, with about 10,000 people losing their jobs so far, as part of a broader organizational change."
"The job cuts have affected senior engineers, architects, operations leaders, program managers, and technical specialists with expertise in cloud infrastructure."
"Oracle is stepping up spending on datacentres, which are crucial for developing and operating AI systems, to better compete with cloud rivals."
"Investors have expressed concerns about the billions of dollars in expenditure tied to Oracle's plans, including a $300bn datacentre deal with OpenAI."
Oracle is reducing its workforce by thousands as part of a strategy to reassure investors regarding its AI infrastructure investments. Approximately 10,000 employees have been laid off from its 160,000-strong workforce. The job cuts have impacted various roles, including senior engineers and program managers. Oracle is increasing its spending on datacentres to compete with rivals like Alphabet and Amazon, with plans for a $300bn datacentre deal with OpenAI. Concerns have arisen among investors regarding the significant costs associated with these plans, including raising $50bn in new debt.
Read at www.theguardian.com
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