Oracle Layoffs Loom as US Banks Pull Back Funding for AI Data Centre Expansion and Cerner Sale Considered

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Oracle is contemplating to cut nearly 20,000-30,000 jobs and selling some of its activities as US banks pull back from financing the company’s AI data centre expansion, according to a CIO report.

The CIO report, citing investment bank TD Cowen research report, said the Oracle layoffs would mean the company gaining $8 billion to $10 billion in free cash flow. Oracle is also mulling a sale of its health-care software unit, Cerner, which it acquired for $28.3 billion in 2022.

Oracle is yet to issue a statement.

The development come as multiple US…



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Oracle Layoffs Loom as US Banks Pull Back Funding for AI Data Centre Expansion and Cerner Sale Considered


Oracle is contemplating to cut nearly 20,000-30,000 jobs and selling some of its activities as US banks pull back from financing the company’s AI data centre expansion, according to a CIO report.

The CIO report, citing investment bank TD Cowen research report, said the Oracle layoffs would mean the company gaining $8 billion to $10 billion in free cash flow. Oracle is also mulling a sale of its health-care software unit, Cerner, which it acquired for $28.3 billion in 2022.

Oracle is yet to issue a statement.

The development come as multiple US…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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