AI bet goes awry: Oracle fires 21,000 employees

not_your_vase

The article seems to be more about Oracle being forced to cough up $7B as collateral for one of their new shiny (future-) data centers - even though apparently they tried to make this requirement go away, but the regulators weren't touched by their crocodile tears.

ChrisArchitect

[dupe] Recent related: Oracle could face $7B collateral bill for Wisconsin data centre https://news.ycombinator.com/item?id=48993488 S&P Global has lowered Oracle’s creditworthiness from BBB to BBB- https://news.ycombinator.com/item?id=48909768 And 3 months ago: Oracle slashes 30k jobs https://news.ycombinator.com/item?id=47587935

NotMichaelBay

> By the end of fiscal year 2026, the company's workforce was slashed by about 21,000 employees – a decline of roughly 13% – from 162,000 to 141,000 workers. Is this article from the future? > Story by WALLA! MONEY Who?

DonHopkins

I love the smell of freshly mown grass in the morning! When I joined the grass cutting lawnmower party, I didn't think it would mow my lawn!

mawadev

You kinda think senior management knows what goes on, but if you ever got in touch with senior management, you just know they have no idea and go off of vibes, as soon as the vibe shifts around them, its time to socialize the consequences... downwards

mgdev

Never bet against Clay.

BikiniPrince

They just deleted some TPM positions.

sinuhe69

Best part: “Oracle petitioned the court against the requirement, arguing that these financing costs would deter future investment in the state, while emphasizing its commitment to the project, […]. Regulators, on the other hand, remained firm in their stance, clarifying that existing customers should not subsidize data centers. This issue is not limited to Wisconsin: At least 24 US states have already approved special rates, minimum conditions, exit penalties, and collateral requirements for heavy electricity consumers.