This is technically job loss caused by AI...

Note that the article is from the beginning of February.

The bubble popping seems inevitable at this point. Before the Giants were funding this by their core business plus loans backed by their core business. Now they've stretched their credit so much that no one's giving them loans anymore and instead of cutting back on the building spree they're making cuts to their core business.

They're betting that their customers are so locked in that they won't leave despite degradation in service. How deep oracle, AWS, googles hooks are in people remain to be seen, people seem to tolerate a lot of enshitification, but there's gotta be a tipping point. Once they reach that and the core business crashes all the rest of the dominos will fall.

Pop that bubble, baby!

I was listening to a finance YT vid last night and the dude said if it wasn't for the enormous AI spend, the US would be deep in a technical recession now.

obviously the fault of immigrants and those on food stamps though /s

I cannot wait for this bubble to finally burst.

They fired people for AI, now they fire them without AI. Please tell me how they plan on sustaining an economy where only the 1% has discretionary income?

One rich asshole called Larry Ellison.

If the banks don't see the value in it, it's only a matter of time

AI, at this point, seems to have been the single largest scam and money laundering scheme in history.

YEEEEESSSSSS~

What does Oracle even do?

Real jobs or AI jobs.

You should be able to sue companies for gambling away their employees' lives like that.

https://i.kym-cdn.com/entries/icons/mobile/000/029/036/800x450thumb.jpg

lol

Sucks to be in tech right now. I'm sure there are still pockets of good employers with happy, confident worker bees, but those are few and far between as best I can tell.

Pretty much everybody I know and speak with regularly who is working in the tech industry or a tech role in general is feeling the strain.

Layoffs. Remaining employees have to pick up the additional workload of people who were laid off. Threats of future layoffs. Hiring freezes. Bonuses slashed or cut entirely. Little or no raises, not even cost of living increases. Demotions, in some cases. Expected to use LLMs to do things that LLMs have no business doing because management is clueless on the topic and expects everybody who is "good with computer" to be an AI expert. And the list goes on.

And then as already mentioned elsewhere, there are almost no true entry-level positions opening up, so new grads are really struggling to get established in the industry. It's particularly sad because this is so short-sighted and the negative impacts have the potential to be quite severe.

Didn't see THAT coming, huh "oracle"?

It's happening!

(I might make a meme video featuring Bob Ross smiling in front of a nice greenery, while some nice music playing.)

Freaking finally. Maybe RAM prices will finally start coming down.

I think this is two stories being mixed a bit here?

A bit over one month old, the lending issues: https://www.cio.com/article/4125103/oracle-may-slash-up-to-30000-jobs-to-fund-ai-data-center-expansion-as-us-banks-retreat.html

Now, confirmation of the cuts that were suspected since last year from Bloomberg: https://www.reuters.com/business/oracle-plans-thousands-job-cuts-data-center-costs-rise-bloomberg-news-reports-2026-03-05/

I'm not saying there is not a link between the events, but somehow the posted article does a weird rehash mixed with news, and is not even dated, and I don't like that, so I'm sharing the individual news pieces as separate links for other's benefit.

here comes the oh so predictable crash.