AI bet goes awry: Oracle fires 21,000 employees

Discussion (7 Comments)Read Original on HackerNews

mawadev•24 minutes ago

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

not_your_vase•about 3 hours ago

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.

arm32•about 1 hour ago

I'm shocked regulators didn't budge. Good.

NotMichaelBay•about 1 hour ago

> 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?

toast0•about 1 hour ago

Oracle's fiscal year is June through May. And they enumerate their years so that the year number matches the calendar year when the year closes in May.

I'd guess their fiscal year is trying to align with fiscal years of schools and governments, which are major customers and often have budget cycles aligned july-june or similar.

DonHopkins•33 minutes ago

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!

ChrisArchitect•about 2 hours ago

[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

AI bet goes awry: Oracle fires 21,000 employees

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Discussion (7 Comments)Read Original on HackerNews