Oracle has reduced its workforce by 21,000 employees over the past 12 months, a decline of 13%, with the adoption of AI technologies resulting in reductions to its workforce. Other tech giants such as GitLab, Google, and Intuit have also announced significant layoffs, with AI being a stated factor in their decisions.
These companies are pointing to AI as both the engine of growth and the reason for the cuts, with many reporting record revenues while simultaneously culling their workforces.
The layoffs are part of a larger trend in the tech industry, with companies reevaluating their workforce needs amid uncertain market conditions and the increasing use of AI. Companies such as Cisco, Cloudflare, and General Motors have also announced job cuts, with AI playing a role in their decisions.
