Oracle cuts 21,000 jobs after AI strategy falters

Oracle announced a major workforce reduction after its AI strategy backfired. The company said 21,000 employees will be let go. The cuts represent one of the largest recent tech layoffs. Oracle attributes the move to misjudged AI investments. The decision affects staff across multiple divisions. Analysts note the layoffs could reshape Oracle's cost structure. The company plans to refocus on core cloud services. Observers will watch how the reduction impacts Oracle's market position.