Oracle planning biggest layoffs in years, to cut 30,000 jobs amid AI data-center funding crunch: Report

According to a report by CIO, citing investment bank TD Cowen, Oracle is considering cutting between 20,000 and 30,000 jobs and may also look at selling parts of its business, including Cerner, the healthcare software firm it acquired a few years ago. The move comes as US banks pull back from funding Oracle’s large AI data-centre expansion, making it harder and costlier for the company to raise money. Oracle has not issued any official comment so far.

TD Cowen said the possible job cuts alone could free up $8 billion to $10 billion in cash, money Oracle urgently needs right now.