Tech giant confirms mass job cuts with early morning emails

• Tech giant Oracle has initiated massive job cuts, reportedly affecting up to 30,000 employees globally.
• Workers in multiple countries, including the US, India, Canada, and Mexico, received termination emails on Tuesday morning.
• The emails to its laid-off staff cited “broader organisational change” in what is widely seen as a reference to the tech giant’s recent push to build more AI data centres.
• The job cuts could impact 18 per cent of Oracle's 162,000-strong workforce, with about 12,000 employees laid off in India alone.
• Despite reporting “exceptional” financial results in the last quarter, the company's stock has slid by nearly 25 per cent this year, and analysts had suggested cutting 30,000 employees could generate significant cash.

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Oracle lays off thousands by 6am emails amid AI data centre drive: ‘Today is your last working day’