Oracle reportedly set to axe thousands of jobs and freeze hiring as AI data center bets ignite financial perfect storm — cuts in cloud division to be backfilled with AI

Oracle is reportedly planning significant job cuts and a hiring freeze, particularly in its cloud division, with the intention to replace these roles with AI. The exact number of job losses is unspecified, but the move is seen as part of Oracle's strategy to optimize its workforce amid its focus on AI data centers. The company's stock price has dropped due to substantial investments in AI data centers, prompting cost-cutting measures. Oracle is also facing investor scrutiny over its spending and borrowing predictions, with plans to raise around $50 billion through debt and equity sales.