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34 US-based tech multi national company Oracle’s mass layoffshave been in headlines for past weeks.
Oracle's $300 billion cloud deal with OpenAI is driving its largest-ever restructuring and layoffs.
KEY POINTS
- Oracle's annual capital expenditure surged to $48 billion, mainly funded by debt for AI datacentres.
- Oracle's debt now exceeds $100 billion, with negative free cash flow nearing $25 billion.
- OpenAI reportedly redirected capacity away from Oracle, with Meta as a potential replacement tenant.
- Severance costs from Oracle's layoffs may reach $1.6 billion, with 12,000 employees cut in India.
COMPANIES
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