Oracle to start layoffs which may go up to 30,000 as company faces cash crunch to meet its commitment to Sam Altman’s OpenAI for…

Oracle is planning to cut thousands of jobs across divisions as it scrambles to manage a worsening cash crunch from its ambitious—and increasingly expensive—AI data centre expansion, Bloomberg reports. The layoffs, which could begin as early as this month, would mark the company’s largest-ever restructuring. Oracle disclosed in a September filing that the plan could cost up to $1.6 billion in the current fiscal year, including severance payouts—significantly more than any previous round of cuts the company has undertaken.

The reductions will span multiple business units, with some targeting roles Oracle believes will be made redundant by AI, according to people familiar with the matter.