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The layoffs are part of a broader restructuring that could total anywhere between 10,000 and 30,000 roles.
Oracle's latest layoffs have affected an estimated 12,000 employees in India alone.
KEY POINTS
- The restructuring is linked to Oracle's $300 billion cloud computing deal with OpenAI for 2025.
- Oracle's total borrowings have surpassed $100 billion due to aggressive AI infrastructure expansion.
- Severance in India includes 15 days' salary per year of service, plus ex gratia and fixed payouts.
- Operational challenges, including OpenAI's shift to newer chips, led Oracle to scale back Texas data center plans.
COMPANIES
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