The cuts come as the software giant invests billions of dollars in expanding its artificial intelligence infrastructure.

Oracle plans to cut thousands of jobs which will free up cash flow as the company aggressively invests in its AI data center buildout.

The global tech company filed a notice with the state showing that hundreds of employees across numerous roles will lose their jobs.

Oracle has not confirmed how many employees are affected. But investment bank TD Cowen estimates the cuts could total between 20,000 and 30,000 workers—roughly 18 percent of its global workforce of about 162,000—according to the Next Web.

Weeks after predictions about coming layoffs at HR tech giant Oracle, the company laid off thousands this week in an early morning email.

Oracle began layoffs on Tuesday as it seeks to cut costs. Read the email it sent to affected employees.

Oracle Corporation ORCL shares are up during Tuesday’s premarket session. The company announced a new AI-powered solution aimed at enhancing restaurant operations. This development comes as the broader market experienced gains on Monday,

Oracle today announced the availability of Oracle AI Data Platform for US federal agencies. Purpose-built to securely connect industry-leading generative AI models with agency data, applications, and workflows,