Oracle has dumped billions of dollars into AI, and planned to be the source of choice to build out AI data centers. They've taken on more debt in the past two years than many nation states.
These layoffs are entirely about cutting costs in order to manage this debt. It has nothing to do with human developers being made obsolete, or even increased developer productivity due to AI.
This is actually about investments in AI not paying dividends, and drastic cuts in personnel to keep the company solvent.
quantified•34m ago
siva7•30m ago