- cross-posted to:
- technology@lemmy.ml
- cross-posted to:
- technology@lemmy.ml
It was not a phone call. It was not a meeting. For thousands of Oracle employees across the globe, Tuesday morning began with a single email landing in their inboxes just after 6 a.m. EST — and by the time they finished reading it, their careers at one of the world’s largest technology companies were over.
Oracle has launched what analysts believe could be the most extensive layoff in the company’s history, with estimates suggesting the cuts will affect between 20,000 and 30,000 employees — roughly 18% of its global workforce of approximately 162,000 people. Workers in the United States, India, and other regions all reported receiving the same termination notice at nearly the same hour, sent under the name “Oracle Leadership.



anything to avoid being the first domino to fall off the AI bubble pop…
How is this not a falling domino?
It hasn’t fallen yet, they are eating their own workforce to come up with $10 billion to plug the $300+ Billion in debt obligations they have with their “AI Investment”.
So this is like selling the car you need to go to work, so you can cover the late payment to the oversized mortgage you signed up for.
This is buying them time, but not much… soon they won’t have anything else to sell
I hope Ellison loses everything
Him and his just as evil son.
… and then some