Oracle reportedly laying off thousands of employees; boost investment on AI projects

REDWOOD CITY, Calif. (KGO) -- Oracle became the latest tech company to issue mass layoffs.

The cloud computing company notified 30,000 employees via email on Tuesday that they are out of the job, per Business Insider.

The move is aimed to free up money to spend on artificial intelligence projects, according to CNBC.

Oracle has been pulling away from California for years, moving its world headquarters out of Silicon Valley several years ago.

But the company still has a major presence in Redwood City.