Oracle Corp.
(NYSE:ORCL) is reportedly planning another round of job cuts as it seeks to rein in costs amid its heavy spending on AI infrastructure and rising debt.
The job reductions could reportedly reach double-digit percentages in some teams.
The tech giant has asked managers to compile lists of potentially impacted employees to trim the payroll by the start of the second quarter on September 1, reported Business Insider on Wednesday, citing an internal document and other sources.
The move is a strategic step to alleviate the financial burden caused by the company's heavy investment in AI infrastructure, which has resulted in billions in debt.
