Oracle plans thousands of job cuts as data center costs rise, Bloomberg News reports

March 5 (Reuters) - Enterprise software company Oracle is planning thousands ‌of job cuts as it ‌faces a cash crunch from a massive ​AI data center expansion effort, Bloomberg News reported on Thursday.

The layoffs will impact divisions across Oracle and ‌may be ⁠implemented as soon as this month, the report said, ⁠citing people familiar with the matter. Some cuts will be ​aimed at ​job categories ​that the company ‌expects will shrink due to AI.

The planned reductions are expected to be wider-reaching than Oracle's typical rolling job cuts, according to Bloomberg.

This ‌week, Oracle announced internally ​that it would ​be reviewing ​many of the open ‌job listings in its ​cloud ​division, effectively slowing down or freezing the hiring process, the report ​added.

Oracle ‌declined to comment.

(Reporting by Juby ​Babu in Mexico City; Editing ​by Alan Barona)