Oracle reportedly laying off thousands of employees; Increasing investment in AI projects

REDWOOD CITY, Calif. (KGO) — Oracle became the latest technology company to impose mass layoffs.

The cloud computing company notified 30,000 employees by email on Tuesday that they are unemployed, according to Business Insider.

The move aims to free up money spend on projects in the field of artificial intelligenceaccording to CNBC.

Oracle has been withdrawing from California for years and moved its headquarters from Silicon Valley a few years ago.

But the company still has a strong presence in Redwood City.