Rumor has it that Oracle wants to cut 10% of its workforce for more “AI infrastructure.”

While Larry Ellison is throwing billions at Warner Bros. to ensure his little boy can finally close the $110 billion deal with Paramount, Larry is also rumored to be close to cutting thousands of jobs at his company Oracle.

ORCL rose nearly 2.5% on the news leaked late Thursday.

The current wave of rumors follows a report from Bloomberg that Oracle, which is again about to throw $110 billion ($31 a share in cash) at Warner Bros. to ensure that its son David Ellison can see his name in shimmering lights, is in the process of cutting 10% of Oracle’s 160,000-person team.

According to investment bank TD Cowen, this could mean a loss of 20,000 to 30,000 jobs.

These rumors suggest that Oracle plans to cut 10% of its workforce in order to “free up” about $8-10 billion in cash for future AI infrastructure expansions, something Oracle is already very deep into…