AUSTIN, Texas — Austin-based Oracle is cutting more jobs as the company spends billions to expand the data centers powering its AI business.
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The company, which deals with database software and cloud computing, already cut thousands of jobs earlier this year.
“After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a broader organizational change,” the email to affected employees said, according to The Statesman. “As a result, today is your last working day.”
Despite the layoffs, the company’s AI business is surging. In its quarterly earnings report last week, Oracle said it booked more than $30 billion in new AI cloud computing contracts in the quarter. Total revenue was up 30% from a year ago, at $19.3 billion, with a net income of $4.7 billion.