Oracle to cut another 70 jobs in Ireland in AI cost-cutting push
Oracle is looking to cut another 70 Irish jobs this year as it continues to trim costs to fund its expensive push into artificial intelligence (AI) infrastructure and data centres. The US cloud computing giant, which has already shed around 150 jobs in Ireland this year, started a collective redundancy process today after informing staff of its plans on Tuesday. The Irish Times understands that staff were told Oracle is planning to cut 70 jobs, mostly concentrated in engineering and development roles, with some sales and finance positions also expected to be eliminated. It is understood that Oracle, which has not responded to requests for comment, employs around 650 people in the Republic after its most recent round of redundancies. Minister for Enterprise Peter Burke has been notified about the collective redundancy process. Speaking at a press conference in Dublin on Wednesday, Burke said the Government wants to offset the impact of AI and its displacement of jobs in the Republic by training and retraining workers. “I am aware of [the Oracle cuts],” he said. “You’re always going to have challenges with companies. Every single week, I get in a series of redundancy [notices]. “It’s one of the areas that took a while to get used to when I got this job, because when you have an economy with over 2.8 million people employed, you’re always going to have transition in that economy, and particularly right now, when you see some roles which are changing. “You can see that happening through AI and other measures taking hold, but new opportunities are arising just as fast.” Profits jump 80% at Oracle as it starts global redundancy programme Oracle, which has offices in Dublin and Galway, has embarked on a large-scale programme of data centre building as it looks to bulk up its cloud computing unit with a focus on AI. Citing people familiar with the situation, Bloomberg reported in March that the Larry Ellison-founded group was planning to shed jobs in areas of the business that it expects AI to make redundant. Against this backdrop, Oracle said in June that it had slashed its global headcount by around 13 per cent, or about 21,000 employees, as it dramatically restructured the business. Oracle spent $1.84 billion (€1.64 billion) on severance payments and other exit costs related to the restructuring activities in the 12 months to the end of May. Oracle’s share price, which has fallen by more than 25 per cent so far this year, has been under pressure as investors queried its enormous capital expenditure on data centres and AI infrastructure. However, the S&P 500-listed company’s shares advanced during Tuesday’s session as rumours about more US job cuts spread online. Separately, Ellison’s son, David Ellison, is at the centre of the $111 billion merger that will bring his Paramount Skydance and Warner Bros Discovery together into a new Hollywood titan. The deal was completed on Tuesday. Female-looking AI agents were paid less than male ones in virtual office, study finds