US tech firm Oracle cuts thousands of jobs as it steps up AI spending
by Dan Milmo and agency from on (#74N3T)
Company chaired by Trump ally Larry Ellison seeks to reassure investors that bet on AI infrastructure will pay off
Oracle is cutting thousands of jobs as the US technology company seeks to reassure investors that its bet on AI infrastructure will pay off.
The $420bn (315bn) company, which is headquartered in Austin, Texas, started making employees redundant on Tuesday, with thousands of its 162,000-strong workforce expected to leave.
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