Oracle reduces workforce by 21,000

Oracle announced a reduction of approximately 21,000 employees over the past twelve months, bringing the total number of employees to around 141,000 by the end of May. This move is a result of its technological transformations and reliance on artificial intelligence. These measures have helped cut costs, with restructuring expenses amounting to about $1.8 billion, as part of the company's efforts to enhance efficiency and strike a balance between investing in advanced technologies and controlling expenses.

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