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EXCERPT:
“The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce,” Oracle said Monday in an annual financial regulatory filing.
The company’s global headcount shrank to 141,000 full-time employees as of the May 31 end of the fiscal year, compared with 162,000 a year earlier, Oracle said. The reductions led to about $1.8 billion in restructuring costs.
Oracle is under financial pressure because of an expensive build-out of AI data centers for customers like OpenAI. Earlier this year, it began cutting thousands of jobs as part of efforts to save cash, Bloomberg has reported. The exact scope of the cuts was never formally disclosed.
As of the end of May, the company had about 49,000 US workers while about 92,000 were employed internationally.
