Oracle planning mass layoffs as AI spending turns cash flow negative: Report

Oracle Corp. is preparing to lay off thousands of workers across its business units to ease a cash shortage caused by its aggressive expansion of AI-powered data centres, a Bloomberg report said, citing people familiar with the plans.

The job cuts could start as early as this month and will go beyond the company’s usual small-scale reductions, sources told Bloomberg News. Some positions targeted for elimination are ones that the company believes artificial intelligence will make redundant in the future.