Oracle is cutting thousands of jobs as the US technology company seeks to reassure investors that its bet on AI infrastructure will pay off.The $420bn (£315bn) company, which is headquartered in Austin, Texas, started making employees redundant on Tuesday, with thousands of its 162,000-strong workforce expected to leave.
About 10,000 people have lost their jobs so far, the BBC reported, citing an unnamed employee at the company, which is chaired by Larry Ellison, the billionaire ally of Donald Trump. Ellison is worth $189bn and is the world’s sixth richest person, Forbes estimates.
Michael Shepherd, a senior manager at Oracle, who was not affected by the cuts, posted on the social media site LinkedIn that there had been a “significant reduction in force” at the business.
Shepherd said the decision had affected “senior engineers, architects, operations leaders, program managers, and technical specialists with deep expertise in cloud infrastructure, government and sovereign cloud environments, and enterprise-scale systems
... Show more...Oracle is cutting thousands of jobs as the US technology company seeks to reassure investors that its bet on AI infrastructure will pay off.The $420bn (£315bn) company, which is headquartered in Austin, Texas, started making employees redundant on Tuesday, with thousands of its 162,000-strong workforce expected to leave.
About 10,000 people have lost their jobs so far, the BBC reported, citing an unnamed employee at the company, which is chaired by Larry Ellison, the billionaire ally of Donald Trump. Ellison is worth $189bn and is the world’s sixth richest person, Forbes estimates.
Michael Shepherd, a senior manager at Oracle, who was not affected by the cuts, posted on the social media site LinkedIn that there had been a “significant reduction in force” at the business.
Shepherd said the decision had affected “senior engineers, architects, operations leaders, program managers, and technical specialists with deep expertise in cloud infrastructure, government and sovereign cloud environments, and enterprise-scale systems”.
That's just what we need. More senior tech workers out of work in Austin. Thank god we now have a fresh supply!
Company chaired by Trump ally Larry Ellison seeks to reassure investors that bet on AI infrastructure will pay off
Dan Milmo (The Guardian)
TehPers
in reply to Powderhorn • • •Hey, we have a ton of those here in Washington too! Maybe if someone finds a way for AI to actually be a productivity booster, they can hire all the tech workers and turn them into money printers with the insane output they're supposed to produce with it.
Powderhorn
in reply to TehPers • • •HobbitFoot
in reply to Powderhorn • • •The Bard in Green
in reply to Powderhorn • • •Powderhorn
in reply to The Bard in Green • • •like this
SuiXi3D likes this.
its_me_xiphos
in reply to The Bard in Green • • •megopie
in reply to Powderhorn • • •tvbusy
in reply to Powderhorn • • •Powderhorn
in reply to tvbusy • • •GadgeteerZA
in reply to Powderhorn • • •its_me_xiphos
in reply to GadgeteerZA • • •