US tech firm Oracle cuts thousands of jobs as it steps up AI spending

admin April 1, 2026 Leave a Comment

Company chaired by Trump ally Larry Ellison seeks to reassure investors that bet on AI infrastructure will pay off

Oracle is cutting thousands of jobs as the US technology company seeks to reassure investors that its bet on AI infrastructure will pay off.

The $420bn firm, headquartered in Austin, Texas, started making employees redundant on Tuesday, with thousands of Oracle’s 160,000-strong workforce expected to leave.

Company chaired by Trump ally Larry Ellison seeks to reassure investors that bet on AI infrastructure will pay offOracle is cutting thousands of jobs as the US technology company seeks to reassure investors that its bet on AI infrastructure will pay off.The $420bn firm, headquartered in Austin, Texas, started making employees redundant on Tuesday, with thousands of Oracle’s 160,000-strong workforce expected to leave. Continue reading…

Discover more from Stayupdated.co.uk

Subscribe to get the latest posts sent to your email.

Author: admin

Will Trump bring peace, or more bombs? Shady speculators seem to bet right every time | Nesrine Malik March 30, 2026
The president may not be benefiting directly from betting markets, but he has encouraged a culture that treats politics like a casino floorOdd things are happening in the markets. Last Monday, 15 minutes before Donald Trump posted an announcement that “productive talks” with Iran had taken place, oil traders placed half a billion dollars’ worth […]
I was paid to write fake Google reviews – then my ‘bosses’ tried to scam me March 27, 2026
Undercover reporter gets a taste of the sprawling fraud industry in which cryptocurrencies play a crucial roleFive firms including Autotrader and Just Eat investigated over fake review failingsThe holiday flat near(ish) the Roman ruins of Pompeii was “disgusting”, and smelled of “a mix of dampness and sewage”, according to one reviewer on Google Maps. I […]
How will we know Labour is really cleaning up party funding? When Reform and the Tories fight like hell to stop it | Polly Toynbee March 26, 2026
Banning crypto donations is a start, but here’s what Keir Starmer really needs to do to make his the party of decent politicsGood. Yet again the government has done a good thing. But yet again it is not enough, and too weak a political klaxon to signal what Labour stands for. Overcaution and opportunity missed […]
Overseas political funding capped and crypto donations blocked in blow to Reform UK March 25, 2026
Legislation subject to MPs’ approval but will be backdated due to urgency of threat to UK democracy, says ministerKeir Starmer is set to embark on a fundamental overhaul of the political finance system, starting with an emergency ban on cryptocurrency donations and £100,000 cap on donations from Britons living abroad in a blow to Reform […]
Labour’s donations crackdown is a blow to Reform UK – and a highly political move March 25, 2026
Reform’s ability to fundraise is hobbled in a move that draws attention to donations from an overseas billionaireReform UK are no doubt the biggest losers from the government’s emergency measures to overhaul political donations.Labour MPs are absolutely delighted that No 10 is at last bringing in changes that will hobble Reform’s ability to raise money […]