Oracle Plans Thousands of Job Cuts Amid AI Data Center Expansion and Cash Constraints

Oracle plans to cut thousands of jobs across multiple divisions to address a cash crunch caused by its extensive AI data center expansion. The company, led by Chairman Larry Ellison, is investing heavily to support clients like OpenAI, xAI, and Meta, with capital expenditures expected to rise significantly. Some layoffs will target roles anticipated to shrink due to AI. Oracle is also reviewing open cloud division positions, slowing or freezing hiring. The company aims to raise up to $50 billion through debt and equity to fund these efforts.