Oracle is considering laying off 20,000 to 30,000 employees. This aims to generate $8-10 billion for AI infrastructure. The company faces high costs from major AI client commitments like OpenAI. US banks have retreated from financing, doubling Oracle's borrowing costs. Oracle also plans debt and equity raises and may sell its Cerner unit.
https://mlq.ai/news/oracle-eyes-major-layoffs-of-20000-30000-staff-to-offset-surging-ai-data-center-costs/