Oracle cut around 21,000 jobs last year as the tech company continued to develop its artificial-intelligence business and made heavy investment in data centers.
The cuts are part of a wider trend among tech firms as they spend hundreds of billions of dollars building out AI infrastructure. Meta and Amazon have also cut thousands of jobs in recent months as tech giants try to reimagine their workforces and become more nimble to compete with AI-native startups.
Austin, Texas-based Oracle’s head count shrank by roughly 13% in its previous fiscal year, according to its latest annual report. As of end-May, the company had approximately 141,000 full-time employees, compared with 162,000 at the end of the last fiscal year.
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https://www.wsj.com/tech/ai/oracle-sheds-21-000-jobs-as-it-continues-ai-focused-streamlining-a3149b90