Oracle 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.
TBH I still don’t get it, no one I know would ever use their shitty overpriced garbage database but somehow apparently it’s so entrenched in several megacorps that they pay megabucks to Oracle instead of simply moving away to a cheaper alternative
How can you lose over twenty thousand employees and still have a functioning business?
They can’t. They will rehire/backfill a fraction of it back a year from now at lower salaries.
This video might help:
https://www.youtube.com/watch?v=KW80Yjib7RA
TBH I still don’t get it, no one I know would ever use their shitty overpriced garbage database but somehow apparently it’s so entrenched in several megacorps that they pay megabucks to Oracle instead of simply moving away to a cheaper alternative
Confuses the hell out of me
So same business model as Microsoft. Same self-inflicting injury strategy too,