Oracle Reportedly Planning To Cut Thousands Of Jobs

[1srelluc]

Oracle Reportedly Planning To Cut Thousands Of Jobs

Oracle stock was slightly higher following a report that the tech giant will cut thousands of jobs amid a big AI spending push.

www.investors.com

Oracle (ORCL) is reportedly planning to cut thousand of jobs as the tech giant dedicates resources toward a costly AI data center buildout. The company's AI-related capital spending plans have weighed on Oracle stock for months.

The job cuts will affect "divisions across the company and may be implemented as soon as this month," according to a report from Bloomberg Thursday afternoon. The report cited unnamed sources.

I saw a X post earlier this week where Ellison discussed he was going to open Oracle's databases up to AI.

Medical records, business supply chain records, etc. Almost all use Oracle database systems to track data.

Ellison is going all in on using this data to train his AI models. They want to free up cash from payroll obligations and other personnel requirements to build out the data centers required to do this.

Jeez, talk about a beast (data centers) that needs to be starved......I guess I'm too dumb to see the end-game here but I don't sense much good coming from it.

 

[CrusaderFrank]

He's a walking antitrust violation as well

The Ellison MSM

 

[1srelluc]

He's a walking antitrust violation as well

The Ellison MSM

Well it's not like he could really hurt CNN.

 

[evenflow1969]

Oracle Reportedly Planning To Cut Thousands Of Jobs

Oracle stock was slightly higher following a report that the tech giant will cut thousands of jobs amid a big AI spending push.

www.investors.com

Oracle (ORCL) is reportedly planning to cut thousand of jobs as the tech giant dedicates resources toward a costly AI data center buildout. The company's AI-related capital spending plans have weighed on Oracle stock for months.

The job cuts will affect "divisions across the company and may be implemented as soon as this month," according to a report from Bloomberg Thursday afternoon. The report cited unnamed sources.

I saw a X post earlier this week where Ellison discussed he was going to open Oracle's databases up to AI.

Medical records, business supply chain records, etc. Almost all use Oracle database systems to track data.

Ellison is going all in on using this data to train his AI models. They want to free up cash from payroll obligations and other personnel requirements to build out the data centers required to do this.

Jeez, talk about a beast (data centers) that needs to be starved......I guess I'm too dumb to see the end-game here but I don't sense much good coming from it.

Nothing good is coming of it. Nothing but loss of jobs and worse.What do we do? The genie is out of the bottle. If we don't develop AI other countries do. Before you know it a universal income will be needed to survive. Captilists have big problem with this. Even if we do decide to do such a thing for survival most people need to feel needed. It is not good for the human psychy to not have a purpose. Drug problems will rise, suicides will rise. The good news is I don't think an ultra intelligent AI will enslave us. Machines soon will be better at everything what sense will it make to make us work. Glad I am old.

 

[1srelluc]

Nothing good is coming of it. Nothing but loss of jobs and worse.What do we do? The genie is out of the bottle. If we don't develop AI other countries do. Before you know it a universal income will be needed to survive. Captilists have big problem with this. Even if we do decide to do such a thing for survival most people need to feel needed. It is not good for the human psychy to not have a purpose. Drug problems will rise, suicides will rise. The good news is I don't think an ultra intelligent AI will enslave us. Machines soon will be better at everything what sense will it make to make us work. Glad I am old.

Yeah, sometimes it's good to have reached the point in life where you are just running out the clock.