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Oracle Plans Thousands Of Job Cuts Amid Expansion
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Oracle is planning thousands of job cuts as it confronts a cash crunch from a massive AI data-center expansion to serve OpenAI, xAI and Meta, Bloomberg reported Thursday. The company said it plans to raise $45 billion to $50 billion this year and now expects fiscal-2026 capital expenditures to be $15 billion higher than earlier estimates, while reviewing cloud hiring.
Scoring Rationale
High industry impact and strategic relevance, limited by single-source Bloomberg reporting and lack of official Oracle confirmation.
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