alt Hacker NewsOracle slashes 30k jobs
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> RHS (Revenue and Health Sciences) — employees described a reduction in force of at least 30%, with 16 or more engineers from individual business units cut in a single action.
Hm. So, likely old Cerner operations.
Y'know, the ones that keep EMR systems running.
Ol' Larry just doesn't see the value proposition in making sure that your health information is accurate.
As a side, the fact that you can just slash someone's job without any warning needs to be addressed by law.
This is AGI.
It's still a company worth $400B that makes $3B of profits and not even $20B of revenue.
And full of debt from AI datacenters full of hardware with a 6 year depreciation cycle, possibly even lower depending on what NVidia releases next.
So overvalued!
Come work for me instead!
open ai sitll pouring money into oracle btw
an unceremonious email blast is more than I expected from Oracle
It's almost like Larry Ellison is a bad CTO and needs to step down.
companies overhired when money was cheap during covid to inflate their numbers and push their marketcap. since cheap money is gone, they have no incentive to keep the workforce. this has nothing to do with AI.
Disgusting.
Imagine slashing 30,000 jobs for a measly 2% share price bump.
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30000 jobs equals 10 billion dollars?
10,000,000,000 / 30,000 = 333k per employee?
I guess that tracks for a company that is 50% lawyers for suing their own customers /s
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Could this be the start of the AI bubble bursting? There are so many rumors going around about data centers not being built, GPUs waiting to be installed, debt, and much more. Crazy times.