Lates News

Oracle Corp. has laid off 21,000 employees in the past 12 months, which exceeds previous expectations, including positions cut due to the use of artificial intelligence (AI) applications. Oracle stated in its annual financial filing on Monday: "The adoption and deployment of AI technology in various businesses has led to, and may continue to lead to, a decrease in the number of employees." As of the end of the fiscal year on May 31, the total number of full-time employees worldwide at Oracle has been reduced to 141,000, down from 162,000 a year ago. The layoffs resulted in approximately $1.8 billion in restructuring costs.