Oracle Joins Tech Peers in Layoff Spree

Oracle is reportedly conducting layoffs as the software giant joins other technology companies trimming staff amid a surge in artificial intelligence (AI) spending, Emma Ockerman reported for Yahoo Finance.

Oracle said that AI models for generating computer code have become so efficient that they can restructure product development teams into smaller, more agile, and productive groups. (Photo: Not Quite a Photographer Flickr) 

The company declined to comment and did not specify how many workers were affected. 

CNBC reported that Oracle has told employees it is cutting thousands of roles, while the BBC said “some 10,000” jobs may have been eliminated. Many affected workers posted on LinkedIn that they received unexpected early-morning emails notifying them of the decision.

According to Business Insider, the email stated: “After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a broader organizational change.”

Oracle is not alone in downsizing, as the tech sector reallocates resources toward AI.

Meta, for instance, laid off hundreds of employees last month. In its fiscal third-quarter results, Oracle said that “AI models for generating computer code have become so efficient that we have been restructuring our product development teams into smaller, more agile, and productive groups.”