The ‘curse’ of artificial intelligence, Oracle is on the way to retrenchment! How much influence in India?

Oracle is on the way to lay off twenty thousand workers again. The multinational information technology company is on the verge of displacing senior staff while relying again on artificial intelligence. Oracle also laid off a large number of employees earlier this month. At that time, this multinational IT company laid off 30,000 workers in one fell swoop. As soon as he cut his hair, he was retrenched at Oracle. Discussions about this incident have already started around the world.

Employees at the company blamed artificial intelligence as the reason for the layoffs. It has been claimed that the software company is taking this extreme step to increase spending on artificial intelligence related infrastructure. This time too it is said that the workers have been laid off for that reason and for that purpose. Oracle has removed this total number of employees from its payroll from America, India, Canada and various South American countries. The names of many old workers, experienced and skilled workers are also in this layoff list. However, the IT company has decided to compensate the retrenched workers despite losing their jobs. Specifically, US workers who lost their jobs will receive four weeks of base pay. However, no compensation shall be paid for more than 26 weeks. Apart from this, the IT company will also provide health insurance and other financial benefits to the employees.

Note that artificial intelligence is the future of the organization. With that in mind, Oracle recently invested $156 billion in building data centers. Investment mainly for OpenAI. One of the reasons for this huge cost is the purchase of 3 million specialized chips for the data center. Apart from the initial investment, it is said to cost between 6.9 billion to 50 billion annually. According to informed sources, due to this huge amount of money investment, the company is walking on the path of cost reduction in various areas including staff layoffs.