Oracle Cuts Thousands of Jobs Amid Stock Decline

Oracle is reportedly laying off thousands of employees, a move that comes as the company's stock price has fallen approximately 25% this year. Investors have expressed concerns regarding the potential impact of artificial intelligence on Oracle's core software business. The exact number of affected employees is not specified, but the company's workforce stood at 162,000 as of May. This significant workforce reduction signals potential strategic shifts or cost-cutting measures within the technology giant in response to market pressures and evolving industry trends.