Oracle Layoffs, Feb. 2 -- Tech major Oracle is planning to slash up to 30,000 jobs to fund AI data centres, a new report has said.

According to a report by CIO citing a research report by investment bank TD Cowen, Oracle will also be selling some of its activities as US banks pull back from investing in the company's AI data centre expansion.

The Oracle layoffs will slash jobs of around 20,000 to 30,000 employees, the report said.

"Both equity and debt investors have raised questions regarding Oracle's ability to finance this buildout," TD Cowen said in its report, according to CIO.

The financing pressures are already taking a toll on Oracle's customer relationships. The company had earlier taken up projects to build data centres for ...