{
    "success": true,
    "data": {
        "id": 1648952,
        "msgid": "worlds-richest-person-to-lay-off-thousands-of-employees-heres-why-1775033555",
        "date": "2026-04-01 15:00:00",
        "title": "World's Richest Person to Lay Off Thousands of Employees, Here's Why",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Business",
        "summary": "Oracle, owned by billionaire Larry Ellison\u2014the world's sixth-richest person\u2014is reportedly planning to lay off thousands of employees due to advancements in artificial intelligence technology. The company has been heavily investing in AI infrastructure, funded largely through debt, which has raised concerns among investors about its cash flow and mounting liabilities. Despite the potential job cuts, Oracle's executives remain optimistic about the long-term returns from these investments amid surging demand for AI capabilities.",
        "content": "<p>Jakarta, CNBC Indonesia - Software giant Oracle is reportedly set to\ndismiss thousands of employees due to developments in artificial\nintelligence technology. For context, Oracle is owned by Larry Ellison,\na close associate of US President Donald Trump, with a net worth of\nUS$188.7 billion (Rp3,200 trillion). Ellison ranks as the sixth-richest\nperson in the world, according to Forbes records.<\/p>\n<p>CNBC International reported Oracle\u2019s layoff plans based on\ninformation from two sources. The company has not yet officially\nannounced the staff reductions.<\/p>\n<p>Oracle declined to comment on the reports. There is no specific\ninformation on the number of employees affected by the layoffs, while\ndata from May 2025 indicates the company employs 162,000 people.<\/p>\n<p>Oracle is one of the US tech giants competing in the AI race\nalongside other major companies. The firm has increased its capital\nexpenditure to build data centre infrastructure capable of handling AI\nworkloads.<\/p>\n<p>However, Oracle is relying on debt to finance its infrastructure\ndevelopment. This has also led investors to pressure the company.\nInvestors are questioning the ballooning debt for AI investments, as\nwell as the reportedly thinning cash flow.<\/p>\n<p>CNBC International noted a plan to raise funds through debt and\nequity in January for US$50 billion (Rp848.5 trillion). Executives have\nassured there are no further plans to raise debt this year.<\/p>\n<p>They also believe these AI investments will yield results over time.\nA similar sentiment was expressed by Clay Magouyrk, who replaced Safra\nCatz as co-CEO alongside Mike Sicilia.<\/p>\n<p>\u201cDemand for AI infrastructure, both GPUs and CPUs, exceeds supply.\nThis is evident from our remaining performance obligations of US$553\nbillion (Rp9,300 trillion),\u201d he explained earlier this month.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/worlds-richest-person-to-lay-off-thousands-of-employees-heres-why-1775033555",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}