Oracle (ORCL) is reportedly conducting layoffs as the software giant joins other tech companies trimming staff amid a rash of AI spending.
The company declined to comment to Yahoo Finance and did not offer clarity on how many workers were affected. CNBC reported the company has told its employees it’s slashing thousands of roles. The BBC reported “some 10,000” people may have lost their jobs.
Multiple people posted on LinkedIn Tuesday that they had been affected, including some who said they had received a surprise early-morning email with the news.
That email, according to reporting by Business Insider, informed workers that “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.”
The company is hardly alone in cutting roles as the tech sector looks to drop more resources on AI: Meta laid off hundreds of workers last month. Oracle also said in its fiscal third quarter results 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.”
Emma Ockerman is a reporter covering the economy and labor for Yahoo Finance. You can reach her at emma.ockerman@yahooinc.com.
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