posted in Technology
AI bet goes awry: Oracle fires 21,000 employees
www.jpost.com/business-and-innovation/tech-and-start-ups/article-903442
The Jerusalem Post | JPost.comAI bet goes awry: Oracle fires 21,000 employees | The Jerusalem PostOracle laid off ~13% of its staff to fund a $300B computing deal with OpenAI. Now, a credit downgrade and $7B in required power grid guarantees put the massive project in jeopardy.
Replying to @sanitation@lemmy.today
And this was after they fired about 30,000 employees.
Replying to @Thebeardedsinglemalt@lemmy.world
So now they HAVE to double down and fund this AI infrastructure, because sunk costs dictate that they can’t admit to a bad decision and hire back the terminated employees.
Just because it’s costly doesn’t mean they aren’t going to push forward with all their might, unfortunately
Replying to @NottaLottaOcelot@lemmy.ca
Anyone with sense still locked in to Oracle products needs to find their nearest exit strategy.
I know it won’t be easy, but the alternative is going to be a lot messier when they completely go to shit and you lose everything.