Oracle Plans Another Round of Layoffs, Already Laid Off 21,000 Employees This Year

BlockBeats News, August 13th - Oracle has implemented a new round of layoffs to reduce salary expenses as the company is accumulating tens of billions of dollars in debt to fund its AI infrastructure. Earlier this year, Oracle had already laid off 21,000 full-time positions.

According to internal documents, the layoffs in some teams may reach double digits percentage-wise. Insiders said the company has asked managers to submit a list of affected employees, with the goal of completing the salary cuts before the start of the second quarter on September 1st.

Oracle declined to comment on the matter.