Oracle begins massive workforce reduction affecting thousands across United States. The tech giant is laying off approximately 30,000 employees globally, with 700 workers in California set to lose their jobs by June 1st. The company is cutting 310 positions in Redwood City, 184 in Santa Clara, 158 in Pleasanton, and 50 in Santa Monica, while an additional 491 employees in Washington state face termination. The layoffs stem from Oracle's significant cash strain caused by its massive artificial intelligence data centre expansion. CEO Larry Ellison's company communicated the decision through early morning emails, stating affected workers' final day was immediate. Analysts suggest Oracle may pursue asset sales to finance its aggressive AI infrastructure investments, marking the largest tech sector layoff in the past year.
Post from MarketNews_en
Log in to interact with content.