The company laid off 491 Seattle workers, part of wider cuts as it splurges on artificial intelligence kit while its share price sinks this year.
Business Insider reported that Oracle is chopping thousands of jobs as it faces pressure from the cocaine nose jobs of Wall Street to cut costs while shovelling billions into AI infrastructure such as data centres.
Oracle is hardly the only tech outfit throwing silly money at capital expenditure, but it has the worst-performing stock among the big names this year as it borrows to fund its AI push…