Oracle

Oracle announced today a new round of layoffs that would involve thousands of people. The layoffs follow other staff reductions in recent months that affected workers worldwide and now seem to be concentrated in the United States.

Oracle announces new staff cuts

On March 31, Oracle sent an email to thousands of employees to inform them of the immediate termination of their employment.

"After careful consideration of Oracle's current business needs, we have decided to eliminate your role as part of a broader organizational change. Consequently, today is your last day of work," reads the email sent to employees, as reported by Business Insider.

Last year, Oracle employed 162,000 people worldwide; in February, it emerged that Oracle intended to cut jobs for a total of about 20,000-30,000 positions to finance the construction of data centers for AI. A cut of 30,000 people would represent approximately 20% of the total.

This round of layoffs seems to lead to cuts of at least 10,000 positions, according to what some Oracle employees reported on Reddit, who can see the number of employees present on Slack. The layoffs would affect sales, security, and engineering development personnel.

Oracle's shares have lost about 27% of their value since the beginning of the year and over 50% since the peak reached last September, although they are still up compared to two days ago. The company is also at the center of a lawsuit by bondholders regarding the debt incurred by the company to finance the expansion of its data centers.