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Cuts could reach double-digit percentages on some teams, with Oracle aiming to reduce payroll before September 1
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Oracle $ORCL is planning a new round of job cuts this month as the company borrows tens of billions of dollars to fund its AI data center buildout, according to Business Insider, which cited people familiar with the plans and an internal document.
Some teams could see cuts in the double digits, Business Insider reported. The company has asked managers to identify which employees would be affected, targeting a reduction in payroll ahead of the September 1 start of its second fiscal quarter.
