A tech giant run by one of America's richest men has slashed up to 10,000 jobs in a brutal round of layoffs - as artificial intelligence begins to rip through white-collar America.
Oracle, the software and cloud computing powerhouse founded by billionaire Larry Ellison, started cutting staff on Tuesday in what insiders described as a 'significant reduction in force.'
Workers said they were informed via early morning emails before quickly losing access to company systems.
'Today is your last working day,' read one termination notice seen by Business Insider, which told staff their roles had been eliminated as part of a 'broader organizational change.'
The $420 billion company has declined to comment on the scale of the layoffs, though one employee told the BBC the cuts could reach around 10,000 roles.
This initial wave of job losses at Oracle's Austin, Texas-headquartered operations is expected to be the first of several rounds, potentially affecting a significant portion of its 160,000-strong workforce.
Larry Ellison - the sixth richest person in the world, who now chairs Oracle after founding it in 1977 - is a longtime tech ally of Donald Trump.
Their close friendship led to him shifting his home base from the Hawaiian island he famously bought in 2012 to be closer to Trump in Manalapan, Florida, near the president's Mar-a-Lago estate.
Oracle is slashing 10,000 roles as Larry Ellison ramps up an ambitious AI push, including a massive Texas data center project that's underway with the support of President Trump
Larry Ellison, who chairs the company, is a longtime tech ally and friend of Trump
Oracle, the software and cloud giant founded by billionaire Ellison, began cutting staff Tuesday in what insiders called a 'significant' reduction in force as up to $10,000 jobs were cut
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The tech mogul is worth $195 billion, according to Bloomberg, with his fortune peaking at $388 billion in September last year - driven by an AI-fueled surge in Oracle's stock.
Oracle is pouring tens of billions into artificial intelligence - fueling concerns that AI is enabling companies to operate with far fewer employees.
Its plans include a $300 billion data center deal with OpenAI, the developer of ChatGPT, but investors have grown wary of the enormous spending required - including up to $50 billion in new debt.
In a March filing, Oracle said total costs tied to its 2026 restructuring plan could reach as much as $2.1 billion, largely driven by redundancies and related expenses.
Oracle is not alone, as job cuts sweep across the tech industry amid the accelerating AI arms race.
Amazon has already cut tens of thousands of corporate roles across multiple rounds, even as it doubles down on AI.
Meta has begun another wave of layoffs this year after years of job cuts.
Twitter founder Jack Dorsey's payments company Block has axed 4,000 roles, while Atlassian has slashed around 10 percent of its workforce to refocus on AI.
Gaming giant Epic Games also cut 1,000 jobs last week as it struggles with rising costs and slowing growth.