The layoffs come amid a push by the organisation to further increase AI investment and adoption.
According to a report by CNBC, software maker Oracle has begun informing employees about mass layoffs, which are said to be eliminating thousands of jobs. Employees started receiving notifications on Tuesday (31 March) and while the cuts will have a global impact, the final figures are not yet known.
CNBC confirmed the cuts via conversation with two people familiar with the subject, who also requested that they remain unnamed as the announcement has not been made public as of yet.
In an email shared by The Business Insider, employees were reportedly told: “After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a broader organisational change. As a result, today is your last working day.”
First reported by Bloomberg in early March, it is believed that Oracle is cutting some of the jobs to funnel funds into its major AI data centre expansion efforts. Reportedly, while Oracle is struggling to remain competitive in the GenAI space, the organisation is also believed to be facing pressure from investors concerned about the amount of money being allocated to AI innovation.
