Oracle fires 21,000 employees to fund AI spending

danlitt

Just one more hit. Just one more hit. We're gonna make it this time. It's going to the moon....

dmix

AFAIK this article is not discussing new layoffs, this was previously discussed 3 months ago https://news.ycombinator.com/item?id=47587935 The angle of the article is basically they did these layoffs and now also face some serious debt risks. Which was also obvious a few months ago. Oracle made a huge gamble, even more so than other big tech firms.

sciencesama

jpost posting is very interesting !

ecocentrik

This news is a month old.

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 (also this exact article yesterday with a bunch of upvotes and comments, but doesn't matter https://news.ycombinator.com/item?id=49025754 )

unaib

Very good timing for this contract with the Pentagon then,at just the right amount. https://ca.finance.yahoo.com/news/pentagon-awards-oracle-nea...

beardyw

AI companies want their customers to lay off people so that when they turn up the prices to "barely profitable" they will be forced to pay up.

gordian-mind

Requiring $7 billion in collateral, nearly half the cost of the entire $15 billion project, to insure the utility’s full capital investment in case the company walks away, is completely insane. “Existing customers should not subsidize data centers” seems like pure demagogy there.

rickydroll

Am I the only one who sees the similarity between Larry Ellison and Jean-Baptiste Emanuel Zorg? I mean, other than they're both evil and crazy. https://villains.fandom.com/wiki/Jean-Baptiste_Emanuel_Zorg

krunck

https://archive.ph/tgNR3