Oracle Layoffs: Balancing Cuts & AI Push

0:00Oracle just laid off 491 workers in Seattle on Tuesday, hitting employees at two downtown offices. This is part of wider cuts across the company, as they pour billions into AI data centers, while their stock has dropped nearly 25 percent this year. The layoffs come amid Wall Street pressure to slash cost, even as Oracle takes on debt for those massive AI builds. Their shares actually jumped 6 percent that same day on the news, showing investors like the belt tightening move. In Seattle, the offices aren't shutting down, but the company's footprint is shrinking fast. They had 3,900 employees there last year, and now 757 have been cut since then, including a handful of. Remote folks, this bit's a bigger tech trend, with metatrimming hundreds last week, and Microsoft and Amazon axing thousands over the past year, all tied to. Sky high AI spending. Meanwhile, Oracle founder Larry Ellison just got tapped for President Trump's AI tech council, so expect more eyes on how they balance these

1:04cuts with. Their big AI push moving forward. From your city, powered by AI, this is Canada news today. I'm Corey with The Story.