Oracle has drawn up plans for a new round of layoffs this month, sources say - Business Insider

Oracle has drawn up plans for a new round of job cuts to reduce payroll as it racks up billions in debt to fund AI infrastructure, according to people familiar with the plans and an internal document viewed by Business Insider.

The cuts could reach double-digit percentages on some teams, according to the document. The company has requested managers provide lists of affected employees, with the intention of reducing payroll by the time the second quarter begins on Sept. 1, according to one of the people with direct knowledge.

Oracle declined to comment.