this post was submitted on 31 Mar 2026
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97
Oracle cutting thousands in latest layoff round as company continues to ramp AI spending (www.cnbc.com)
submitted 2 weeks ago by return2ozma@lemmy.world to c/technology@lemmy.world
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[–] Chippys_mittens@lemmy.world 20 points 2 weeks ago (2 children)

So is AI taking away jobs or not? I can't get a straight answer.

[–] Jhex@lemmy.world 35 points 2 weeks ago (2 children)

Is AI the reason jobs are being lost? yes

Is AI actually replacing what was produced by those jobs? no

[–] tidderuuf@lemmy.world 9 points 2 weeks ago

Exactly. The cost of AI is quickly outpacing the productivity and even the functionality of its usage.

Companies are basically finding out that just because you have an Indy race car in the driveway doesn't mean it's an economical case for commuting to work and so the cat and dog will now be butchered so the family has something to eat.

[–] Chippys_mittens@lemmy.world 1 points 2 weeks ago (1 children)

Do you think the former will stay consistent and the latter will change to "yes"?

[–] Jhex@lemmy.world 4 points 2 weeks ago

nope

[–] EncryptKeeper@lemmy.world 11 points 2 weeks ago (2 children)

These jobs aren’t being lost due to efficiency increases from AI. They’re being lost because Oracle wants to build more AI Datacenters and can’t afford to. Banks stopped fronting them money to do so, so they’ve laid all these employees off the increase capital.

[–] Chippys_mittens@lemmy.world 2 points 2 weeks ago

Spooky times

[–] Tollana1234567@lemmy.today 1 points 2 weeks ago

oracle might just self destruct before they can do too much damage with CNN they took over.

[–] RedFrank24@piefed.social 14 points 2 weeks ago

Just one more datacentre bro, just one more! One more and we get GenAI. 10,000 more layoffs and another datacentre! C'mon you know I'm good for it!

[–] inari@piefed.zip 8 points 2 weeks ago

It's not gonna end well for Oracle, is it?

[–] Mwa@thelemmy.club 3 points 2 weeks ago

and this is their stock over the past 6 months btw.

[–] MrSulu@lemmy.ml 3 points 2 weeks ago

If they get into difficulties will they be treated like Trumps epic fail businesses and bailed out by the taxpayers?

[–] Tollana1234567@lemmy.today 0 points 2 weeks ago

paramount+ equally costing them lots of money,