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Oracle laid off up to 30,000 employees across the globe on April 1.
Oracle laid off between 20,000 and 30,000 employees globally in a single day without warning.
KEY POINTS
- Long-serving employees with decades of institutional knowledge were among those abruptly terminated.
- Speculation arose that employees with substantial stock options may have been targeted in layoffs.
- The layoffs are partly driven by Oracle’s negative cash flow and $300 billion AI cloud expansion plans.
- Significant capital expenditure and scaled-back data center projects have contributed to financial strain.
COMPANIES
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