March 5 : Enterprise software company Oracle is planning thousands of job cuts as it faces a cash crunch from a massive AI data center expansion effort, Bloomberg News reported on Thursday.
The layoffs will impact divisions across Oracle and may be implemented as soon as this month, the report said, citing people familiar with the matter. Some cuts will be aimed at job categories that the company expects will shrink due to AI.
The planned reductions are expected to be wider-reaching than Oracle’s typical rolling job cuts, according to Bloomberg.
This week, Oracle announced internally that it would be reviewing many of the open job listings in its cloud division, effectively slowing down or freezing the hiring process, the report added.
Oracle declined to comment.
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