I will continue to say, if they fired 30,000 people to build data centers to cut their costs as they supply software to other companies... who will the customers of those other companies BE?
It they fire all of us, there aren't enough billionaires around to keep their f*ing companies in business.
Why is there never an analysis of the downstream results of laying off so much of our business structure?
@vicfroh of AI decided which employees were fired, they just destroyed the company.
Such mass layoffs destroy knowledge and soft value/assets of a company. There is a certain part which is laid off and is still essential for the day to day trade of the business. Usually between 8 and 12 %. Meaning they fired between 1600 and 3600 essential workers and if it's not based on individual HR decisions, but on AI algorithms, it's substantially worse. And the knowledge and experience can be worth between 100k and 1bn.
That's madness and shareholders should run.
An image of Oracle co-founder Larry Ellison.
Polymarket @Polymarket
BREAKING: Oracle laid off 20,000-30,000 employees this morning with a single 6 am email.
@chakravartiiin
Oracle is worth $400 billion. Its founder is the third richest man on the planet. Oracle reported a 22% revenue gain this quarter Still, they fired 30,000 employees over email to fund Al Data centers. You don't hate billionaires enough.
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