Oracle disclosed Monday that it has reduced its workforce by 21,000 employees over the past 12 months, a decline of 13%, which means more cuts than was previously known, including jobs eliminated because of AI. 'The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce,' the company said in an annual financial regulatory filing. The revelation puts new numbers to what feels to many in the tech industry like an epidemic: companies reporting record revenues while simultaneously culling their workforces, pointing to AI as both the engine of growth and the reason for the cuts. Tech layoffs hit their highest single month in years in May, and AI was the most-cited reason, according to outplacement firm Challenger, Gray & Christmas. We recently wrote about why that rationale is something companies may want to rethink, not least because for many of these companies, the headcount they're now cutting was...
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