Rackspace Technology is reducing its global workforce by about 15 percent. This move is part of a major business transformation focusing on enterprise artificial intelligence. The company's Executive Committee approved the decision on June 10. Rackspace expects annual cost reductions between $75 million and $85 million from this restructuring. These savings will be reinvested into strategic AI growth initiatives.
https://www.timesnownews.com/business-economy/companies/rackspace-technology-layoffs-why-the-firm-is-cutting-15-of-its-workforce-article-154671687