You're probably right about the spending. My data points are coming from my social circle: lots of people tightening belts and not doing things like kitchen remodels or travel.

It would be nice if we had more functional job markets. 

A flood of nearly indistinguishable applicants is a hiring committee’s worst nightmare, especially if none of them are particularly suited to the job.

Au contraire, there is a lot of spending, but it's all going to AI infrastructure, and gamers can't get their hands on RAM.

As to the overall jobpocalypse, yeah I think it'll be bad.  Optimistically, it means people can pivot to other tasks that provide more value to each other.  On the pessimistic side, people won't be able to retrain their skills in time, or there won't be enough demand for their skills for them to support themselves.

SimpleStacker

As well explained by Eco-monos :)

https://www.youtube.com/watch?v=ssX00n92pjM

DarthCoin

Wonder if they got a great  severance package

BlokchainB

Employees across the United States, India, Canada, Mexico, and other countries received termination emails from “Oracle Leadership” at approximately 6 a.m. local time, with no prior warning from HR or their direct managers.

Oracle has not confirmed the total number of people affected, but investment bank TD Cowen has estimated the cuts will hit between 20,000 and 30,000 employees, roughly 18% of Oracle’s global workforce of approximately 162,000 people.

 and the professional forum Blind began confirming cuts in real time from early morning, with reports of entire teams at units including Revenue and Health Sciences (RHS) and SaaS and Virtual Operations Services (SVOS) seeing reductions of at least 30%. Canada, Mexico, and Uruguay were affected before the US wave hit.

The financial logic behind the cuts is not hard to follow. Oracle has committed to an aggressive AI infrastructure buildout that requires an estimated $156 billion in capital spending, according to TD Cowen.

To fund it, the company raised $45-50 billion in debt and equity financing in 2026 alone for Oracle Cloud Infrastructure.

I've generally been feeling not too worried about the AI jobpocalypse, and I still feel that way, but I'm significantly more aware of the general weakness of the economy. There is not a lot of spending going on right now.

news

tech

> Employees across the United States, India, Canada, Mexico, and other countries received termination emails from “Oracle Leadership” at approximately 6 a.m. local time, with no prior warning from HR or their direct managers.

It's not *exactly* getting replaced by AI, but...

> Oracle has not confirmed the total number of people affected, but investment bank TD Cowen has estimated the cuts will hit between 20,000 and 30,000 employees, roughly 18% of Oracle’s global workforce of approximately 162,000 people.
> 
> Employee posts on [Reddit’s r/employeesOfOracle](https://www.reddit.com/r/employeesOfOracle/comments/1s8jibc/laid_off_from_oracle/) and the professional forum Blind began confirming cuts in real time from early morning, with reports of entire teams at units including Revenue and Health Sciences (RHS) and SaaS and Virtual Operations Services (SVOS) seeing reductions of at least 30%. Canada, Mexico, and Uruguay were affected before the US wave hit.
> 
> The financial logic behind the cuts is not hard to follow. Oracle has committed to an aggressive AI infrastructure buildout that requires an estimated $156 billion in capital spending, according to TD Cowen.
> 
> To fund it, the company raised $45-50 billion in debt and equity financing in 2026 alone for Oracle Cloud Infrastructure.

I've generally been feeling not too worried about the AI jobpocalypse, and I still feel that way, but I'm significantly more aware of the general weakness of the economy. There is not a lot of spending going on right now.