Why Oracle Laid Off 30k Employees Despite Strong Revenue Growth
US-based IT firm Oracle has laid off thousands of employees globally, even as it continues to post strong revenue growth. The job cuts come as the company spends heavily on artificial intelligence (AI) infrastructure and large data centre projects, putting pressure on its cash flow. On Tuesday, the company laid off around 2,500 employees in India, with another round of job cuts expected within a month. Globally, Oracle has eliminated about 30,000 positions.
