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 that 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. READ MOREMinister for Enterprise Peter Burke has been notified about the collective redundancy process. His department has been approached for comment. [ s Profits jump 80% at Oracle as it starts global redundancy programmeOpens in new window ]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.