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

Oracle plans to cut thousands of jobs across multiple divisions as it faces a cash crunch from a large AI data center expansion, including a $30 billion investment to support clients like OpenAI, xAI, and Meta. The layoffs, possibly starting this month, target roles expected to shrink due to AI automation. Concurrently, Oracle is slowing or freezing hiring in its cloud division. The company aims to raise up to $50 billion through debt and equity to fund this expansion, with returns anticipated around 2030.