Oracle layoffs may go up to 30,000 as company faces cash crunch to meet OpenAI commitment

Oracle is reportedly planning significant job cuts, potentially thousands, to manage a growing cash crunch fueled by its massive AI data center expansion. This restructuring, costing over $1.6 billion, aims to address financial pressures from a $300 billion OpenAI partnership. The company's stock has seen a substantial decline as Wall Street scrutinizes its aggressive spending and debt.

from Times of India https://ift.tt/Oxz02bM