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The job cuts span divisions including Oracle Health, Cloud Infrastructure, Sales, NetSuite,.
Oracle's $300 billion cloud deal with OpenAI triggered its largest-ever restructuring and mass layoffs.
KEY POINTS
- Oracle pledged to build 4.5 gigawatts of AI data centre capacity for OpenAI by 2027.
- Oracle's debt now exceeds $100 billion, with negative free cash flow nearing $25 billion.
- OpenAI has redirected capacity away from Oracle's Stargate data centre, with Meta as a potential replacement tenant.
- Oracle reportedly laid off 12,000 employees in India, with some units losing up to 30 percent of staff.
COMPANIES
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