AI bet goes awry: Oracle fires 21,000 employees

60 pointsposted 5 hours ago
by petethomas
(msn.com)

9 Comments

not_your_vase

5 hours ago

The article seems to be more about Oracle being forced to cough up $7B as collateral for one of their new shiny (future-) data centers - even though apparently they tried to make this requirement go away, but the regulators weren't touched by their crocodile tears.

arm32

3 hours ago

I'm shocked regulators didn't budge. Good.

ryandrake

22 minutes ago

There must be something else going on. It's 2026. How in the world could a local government in the USA just... fail to let a corporation break the rules and do anything it wants? It defies belief.

mawadev

2 hours ago

You kinda think senior management knows what goes on, but if you ever got in touch with senior management, you just know they have no idea and go off of vibes, as soon as the vibe shifts around them, its time to socialize the consequences... downwards

PearlRiver

11 minutes ago

To be fair some of those CEOs will have trouble finding golf buddies for a few months.

NotMichaelBay

3 hours ago

> By the end of fiscal year 2026, the company's workforce was slashed by about 21,000 employees – a decline of roughly 13% – from 162,000 to 141,000 workers.

Is this article from the future?

> Story by WALLA! MONEY

Who?

toast0

3 hours ago

Oracle's fiscal year is June through May. And they enumerate their years so that the year number matches the calendar year when the year closes in May.

I'd guess their fiscal year is trying to align with fiscal years of schools and governments, which are major customers and often have budget cycles aligned july-june or similar.

DonHopkins

2 hours ago

I love the smell of freshly mown grass in the morning!

When I joined the grass cutting lawnmower party, I didn't think it would mow my lawn!