Oracle plans thousands of job cuts as data center costs rise, Bloomberg News reports

Core Viewpoint - Oracle is planning significant job cuts due to rising costs associated with its data center expansion, which is driven by its efforts to support AI initiatives and partnerships, including a $300 billion deal with OpenAI [1][1][1] Company Strategy - Oracle aims to raise between $45 billion and $50 billion this year to fund its cloud infrastructure expansion, raising concerns among investors about its increasing debt levels [1][1][1] - The company is experiencing a cash crunch as it expands its data center capabilities to serve clients like OpenAI, Elon Musk's xAI, and Meta [1][1][1] Employment Impact - The planned layoffs will affect various divisions within Oracle and may begin as soon as this month, with some cuts targeting job categories expected to decline due to AI advancements [1][1][1] - Oracle is reviewing open job listings in its cloud division, effectively slowing or freezing the hiring process [1][1][1] - As of May 31, 2025, Oracle employed approximately 162,000 full-time employees [1][1][1]