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

Comments

• Midnitte@beehaw.org ⁨1⁩ ⁨month⁩ ago

  Literally just siphoning wealth from society.

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  • recentSlinky@lemmy.ca ⁨1⁩ ⁨month⁩ 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.

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    • p03locke@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ ago

      I prefer radiation therapy.

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    • W98BSoD@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ ago

      Image

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• BestBouclettes@jlai.lu ⁨1⁩ ⁨month⁩ ago

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

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  • p03locke@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ 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?

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    • bl4kers@beehaw.org ⁨1⁩ ⁨month⁩ ago

      Oracle owns Cerner, the largest IT medical provider. No major competitor either, since they’re multinational and most competitors are single country or regional

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    • Midnitte@beehaw.org ⁨1⁩ ⁨month⁩ ago

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

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    • MagnificentSteiner@lemmy.zip ⁨1⁩ ⁨month⁩ ago

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

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    • W98BSoD@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ ago

      One Rich Asshole Called Larry Ellison

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    • BarneyPiccolo@lemmy.today ⁨1⁩ ⁨month⁩ ago

      The Ellisons don’t care, they’re in the media business now. They now control a sizeable portion of the news media, and as well as entertainment. It will bring in even more money, and also make them among the most influential people on the planet.

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  • ryan213@lemmy.ca ⁨1⁩ ⁨month⁩ ago

    They’ll be expecting government handouts to not go bankrupt and that’s why they’re spending as much as they can. They’ll get that money back anyway.

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    • Vex_Detrause@lemmy.ca ⁨1⁩ ⁨month⁩ ago

      This will be the easiest government to get handouts from.

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• Catoblepas@piefed.blahaj.zone ⁨1⁩ ⁨month⁩ 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.

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  • TehPers@beehaw.org ⁨1⁩ ⁨month⁩ ago

    The job losses are AI-driven, though. The upper management fucked around with pouring billions into AI and found out, and the people who had nothing to do with that decision get to pay for it.

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    • Arcka@midwest.social ⁨1⁩ ⁨month⁩ ago

      This has been in motion since before AI was being pushed in everything.

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• fodor@lemmy.zip ⁨1⁩ ⁨month⁩ ago

  Can you imagine if tech workers decided they might want to unionize? That would be an exciting day.

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  • BarneyPiccolo@lemmy.today ⁨1⁩ ⁨month⁩ ago

    They should, although it’s a bit late. Should have done it long before everyone got fired.

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• ideonek@piefed.social ⁨1⁩ ⁨month⁩ ago

  It won’t save them.

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• slauraure@beehaw.org ⁨1⁩ ⁨month⁩ ago

  Wouldn’t/shouldn’t investors see huge layoffs like this as a sign that the company isn’t doing too hot? In a logical world the stock price should be plummeting right now… Oh they’re down 25% this year, so maybe it is.

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• Typhoon@lemmy.ca ⁨1⁩ ⁨month⁩ ago

  This is a sign they know they’re near the end. They’re looting everything they can before the company crashes.

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• st3ph3n@midwest.social ⁨1⁩ ⁨month⁩ ago

  Silicon Valley is rotten to its core.

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