Oracle fires 21,000 employees to fund AI spending
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Re: Oracle fires 21,000 employees to fund AI spending
#2Just one more hit. Just one more hit. We're gonna make it this time. It's going to the moon....
Re: Oracle fires 21,000 employees to fund AI spending
#3AFAIK this article is not discussing new layoffs, this was previously discussed 3 months ago
https://news.ycombinator.com/item?id=47587935
The angle of the article is basically they did these layoffs and now also face some serious debt risks. Which was also obvious a few months ago. Oracle made a huge gamble, even more so than other big tech firms.
Re: Oracle fires 21,000 employees to fund AI spending
#4jpost posting is very interesting !
Re: Oracle fires 21,000 employees to fund AI spending
#5This news is a month old.
Re: Oracle fires 21,000 employees to fund AI spending
#6[dupe]
Recent related:
Oracle could face $7B collateral bill for Wisconsin data centre
https://news.ycombinator.com/item?id=48993488
S&P Global has lowered Oracle’s creditworthiness from BBB to BBB-
https://news.ycombinator.com/item?id=48909768
And 3 months ago:
Oracle slashes 30k jobs
https://news.ycombinator.com/item?id=47587935
(also this exact article yesterday with a bunch of upvotes and comments, but doesn't matter https://news.ycombinator.com/item?id=49025754)
Re: Oracle fires 21,000 employees to fund AI spending
#7jpost posting is very interesting !
Larry is big news in Jerusalem, what do you expect?
Re: Oracle fires 21,000 employees to fund AI spending
#8Very good timing for this contract with the Pentagon then,at just the right amount.
https://ca.finance.yahoo.com/news/pentagon-awards-oracle-nea...
Re: Oracle fires 21,000 employees to fund AI spending
#9AI companies want their customers to lay off people so that when they turn up the prices to "barely profitable" they will be forced to pay up.
Re: Oracle fires 21,000 employees to fund AI spending
#10Requiring $7 billion in collateral, nearly half the cost of the entire $15 billion project, to insure the utility’s full capital investment in case the company walks away, is completely insane. “Existing customers should not subsidize data centers” seems like pure demagogy there.