genai / news / / The Economic Times
US tech giant Oracle is again planning to cut around 30,000 jobs as the company faces a massive cash crunch from a massive AI data center expansion effort.
Oracle plans to cut up to 30,000 jobs, marking its largest-ever restructuring.
KEY POINTS
- Larry Ellison's $300 billion OpenAI partnership has caused significant cash strain at Oracle.
- Oracle's total debt has surpassed $100 billion after rapid borrowing for AI data centers.
- Some job cuts will target roles Oracle expects AI to render redundant across divisions.
- Oracle is considering selling Cerner, its $28.3 billion healthcare software acquisition, to boost liquidity.
COMPANIES
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