To fund its massive AI bet of hundreds of billions, Oracle (ORCL.US) reportedly initiates a new round of layoffs: some teams may face double-digit percentage cuts.

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According to Golden Ten Data APP, internal documents and several informed sources have revealed that Oracle (ORCL.US) is formulating a new round of layoffs to reduce employee costs. Some teams may face layoffs reaching double-digit percentages, and the company has requested managers to submit lists of affected employees, aiming to complete cost reductions before the beginning of the second fiscal quarter on September 1.

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To fund its massive AI bet of hundreds of billions, Oracle (ORCL.US) reportedly initiates a new round of layoffs: some teams may face double-digit percentage cuts.

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