Oracle just laid off 25,000 employees on yesterday due to AI spending constraints.
They are looking at 30,000 total this round.
Total Technology layoffs 33,302 year-to-date.
Higher Energy prices will lead to a potential Major Recession by 2027.
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@d0 Crude reached a high of $120 bbl after Russia invaded Ukraine. Crude is at $114 bbl today and projected to go higher due to Trump’s war with Iran. There are many indicators pointing to a recession as a result of likely stagflation in the next 6 months.
@16z Data centers aren't cheap, broski. Why do you think Dump wants to end run state and local control over their water, land, energy resources? AI has a bigger /\33 than the President of Peace's.
Layoffs due to AI costs? No, its because software engineers roles and many others will be reduced. Better get a cybersecurity degree.
@OP just curious. When oil reached $140/barrel during the Biden administration (compared to $100 now), did the panicans predict a major recession?