Tag: oracle
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Pentagon awards Oracle nearly $7 billion deal in latest software consolidation push
WASHINGTON, July 23 : The Pentagon announced on Thursday a nearly $7 billion, up-to-10-year agreement with Oracle to consolidate the department’s on-premises software licenses into a single contract, the latest move by the Pentagon’s technology chief to cut costs by eliminating fragmented purchasing.The Enter
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Oracle workforce shrinks by about 21,000 employees amid AI adoption
June 22 : Oracle’s total workforce declined 13 per cent, or about 21,000 employees in fiscal 2026, as the cloud computing giant continued restructuring its business, partly driven by the adoption of AI across its operations.The company had a total workforce of 141,000 as of May 31, 2026, compared with about 1
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Oracle workforce shrinks by about 13%
June 22 : Oracle’s total workforce declined by about 13 per cent, or 21,000 employees, in fiscal 2026, as the cloud computing giant continued restructuring its business, partly driven by the adoption of AI across its operations.The company had a total workforce of 141,000 as of May this year, compared with ab
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Oracle shares slide as hefty AI spending, debt plans spook investors
June 11 : Oracle shares tumbled 12 per cent on Thursday as surging spending and a ballooning debt load fanned investor concerns about the cash burn in the company’s push to build out AI infrastructure.If the losses persist, the stock would log its biggest one-day drop since January last year, wiping off aroun
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Oracle’s AI spending blows past estimates, raising worries over growing debt
June 10 : Oracle on Wednesday forecast capital spending plans for fiscal 2027 above Wall Street estimates, as the cloud computing company said it will also raise more debt in 2027, reflecting the staggering scale of cash burn needed to build out its AI infrastructure.Its shares fell 8.9 per cent in extended t
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Oracle awarded US contract to provide government-wide HR software
WASHINGTON, June 10 : President Donald Trump’s administration has awarded Oracle a contract to provide a U.S. government-wide HR platform, according to a statement, making the company a partner in its effort to overhaul federal technology systems. Oracle will provide a cloud-based HR platform to replace the
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Oracle awarded US government contract to provide government-wide HR software
WASHINGTON, June 10 : Oracle won a contract to provide an HR platform for agencies across the U.S. government, according to a Trump administration statement.Oracle will provide a cloud-based HR platform to replace agencies’ individual systems, said Office of Personnel Management Director Scott Kupor in a sta
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