Oracle Plans New Round of Layoffs Targeting Cuts Before September Payroll
AUSTIN, Aug. 12 -- Oracle has drawn up plans for a new round of layoffs targeting completion before the September 1 payroll cutoff, extending a retrenchment that has already cost the enterprise software company more than 21,000 positions this year, Business Insider reported Tuesday.
The planned cuts add a new chapter to one of the most aggressive workforce reductions in Silicon Valley history. Oracle disclosed in a Securities and Exchange Commission filing in June that it had eliminated roughly one in every eight employees over the preceding year, attributing the reductions to its own artificial intelligence adoption, an unusual admission that the company's automation tools had rendered thousands of its workers redundant.
The June filin...
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