TLDROracle, a major tech company, plans to cut up to 30,000 jobs to fund its AI data center expansion. This move comes as US banks pull back from lending to Oracle, citing concerns over the company's ability to finance the $156 billion project. The layoffs aim to generate $8 billion to $10 billion in free cash flow, while Oracle is also considering selling its healthcare software unit, Cerner, to alleviate financial pressure. The company is exploring a 'bring your own chip' strategy to shift some infrastructure costs to clients.

Source: Mint March 08, 2026 17:19 UTC