Larry Ellison cuts 21,000 jobs at Oracle as AI replaces human workers

[task0778]

If AI-driven productivity eliminates the need for most labor in knowledge-intensive sectors, governments may be forced to provide basic livelihoods through universal basic income or expanded public services, aligning with socialist redistributive goals......Business Today.

I don't get where the gov't revenue comes from if most labor/jobs are gone. Gotta be a lot less income taxes paid, no? Say you cut 1,000 jobs due to AI, right? Some say AI will create new jobs building and maintaining data centers or such like. So, all those people need training for that, right? All 1,000 of them? Where does the money come from to do that? I got a feeling that most of those 1,000 people won't have a job. Which means less gov't revenue from fewer taxpayers.

How can the gov't pay UBI and expand public services with less revenue?

Anybody got a link that describes this new modern utopia? The Business Today link doesn't talk about this.

 

[jacksonlamb]

I don't get where the gov't revenue comes from if most labor/jobs are gone. Gotta be a lot less income taxes paid, no? Say you cut 1,000 jobs due to AI, right? Some say AI will create new jobs building and maintaining data centers or such like. So, all those people need training for that, right? All 1,000 of them? Where does the money come from to do that? I got a feeling that most of those 1,000 people won't have a job. Which means less gov't revenue from fewer taxpayers.

How can the gov't pay UBI and expand public services with less revenue?

Anybody got a link that describes this new modern utopia? The Business Today link doesn't talk about this.

A robotic labor tax, and, boy, will the companies scream.

 

[Mac-7]

MSN

Billionaire Larry Ellison has cut 21,000 jobs at Oracle as bosses claimed AI was increasingly replacing human workers.

The software giant had around 141,000 employees at the end of April, down from around 162,000 at the same time last year, according to its latest annual report.

“The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce,” bosses said.

In April, thousands of Oracle workers were told they were being sacked immediately and were locked out of their company IT systems, according to an email seen by The Telegraph. However, the full extent of the lay-offs was not disclosed.

The restructuring reflects both increased use of AI within the company and an effort to shore up staff costs as Oracle refocuses its spending on technology infrastructure. (data centers)

Looks like they did it....And are gonna do it again.

Well, maybe a lot of them were H1B workers.

I wonder what is the percentage of fired workers from india as opposed to Americans?

Hopefully foreigners get the boot first

 

[Mac-7]

How can the gov't pay UBI and expand public services with less revenue?

Stop giving welfare to non US citizens

That will save money

 

[task0778]

Stop giving welfare to non US citizens

That will save money

Nowhere near enough to pay for UBI and expanded services. One wonders if the pols would give UBI to non-citizens rather than the current welfare programs. I don't see the democrats buying into that unless the UBI was pretty high.

We are living the reality now as jobs are being lost. I do not see how this ends well.