Oracle shed about 20k roles globally in the last year

Oracle eliminated approximately 21,000 jobs globally over the past year—about 13% of its workforce—as it restructures its business around artificial intelligence and invests in AI infrastructure like data centers. The cuts, which cost the company $1.8 billion in severance and restructuring expenses, reflect a broader trend across the tech industry, where companies like Amazon and Meta are slashing thousands of roles while spending hundreds of billions on AI development. Oracle warns that the workforce reductions could create shortages in skilled workers and impact productivity as it competes in the AI race.