17:31 - 6.03.2026

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March 6, Fineko/abc.az. Oracle plans to cut thousands of employees in the near future.

ABC.AZ reports, citing Bloomberg, that the company is reallocating budgets to expand its network of data centers to serve large customers, including OpenAI.

Some of the positions will be abolished, since, according to the company, neural networks can perform some tasks. A hiring freeze has also been introduced and vacancies in the cloud division are being reviewed.

To finance the projects, Oracle intends to raise up to $50 billion through the issuance of debt obligations and the sale of shares. Restructuring costs, including compensation for laid-off employees, are estimated at approx. $1.6 billion.