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Chris Remington@beehaw.orgM to Technology@beehaw.org · 6 hours ago

Oracle fired up to 30,000 workers via email after a 95% profit surge. Tech companies are cutting almost 1,000 jobs/day

finance.yahoo.com

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Oracle fired up to 30,000 workers via email after a 95% profit surge. Tech companies are cutting almost 1,000 jobs/day

finance.yahoo.com

Chris Remington@beehaw.orgM to Technology@beehaw.org · 6 hours ago
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It’s unclear exactly how many employees lost their jobs, with reports ranging from 10,000 to 30,000. The latter would represent almost 19% of the company’s 162,000 workers.
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  • BestBouclettes@jlai.lu
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    5 hours ago

    If Oracle and Microsoft crash and burn when the bubble pops, it would be absolutely amazing

    • P03 Locke@lemmy.dbzer0.com
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      4 hours ago

      Microsoft won’t, but Oracle… I’m having trouble figuring out what Oracle sells nowadays that is worth paying money for. Are there really that many companies still hooked on Oracle’s DB?

      • MagnificentSteiner@lemmy.zip
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        2 hours ago

        There are a lot of big companies using Hyperion Financial Management, Hyperion Planning and other EPM stuff.

      • Midnitte@beehaw.org
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        2 hours ago

        Microsoft uses Oracle, to give you a sense of scale.

  • Catoblepas@piefed.blahaj.zone
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    5 hours ago

    They must be cumming buckets once they realized journalists are gormless enough to blindly regurgitate their press releases about how these are AI driven job losses and totally not layoffs due to typical business fuckery.

  • Midnitte@beehaw.org
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    5 hours ago

    Literally just siphoning wealth from society.

    • recentSlinky@lemmy.ca
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      5 hours ago

      Just like cancer. And when it comes to cancer there only two options. Let the cancer kill the body, or we “cure” it first.

      • P03 Locke@lemmy.dbzer0.com
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        4 hours ago

        I prefer radiation therapy.

  • ideonek@piefed.social
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    It won’t save them.

  • st3ph3n@midwest.social
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    5 hours ago

    Silicon Valley is rotten to its core.

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