New Delhi, April 1 -- Oracle has announced 30,000 job cuts, marking the biggest single tech layoff in the last 12 months.

A CNBC report confirmed that the company's stock price declined sharply, linked to heavy spending on AI infrastructure. The report also explains that although Oracle faces market anxiety and competitive risk from generative artificial intelligence models, the company is facing increasing investor concern over rising debt tied to AI investments and its dwindling cash flow.

The company's stock price is down 25% this year, dropping more than all of tech's megacaps.

According to reports, a total of 30,000 employees were laid off this time.

The layoffs, not performance-based, heavily affected engineering, software devel...