00:00we move on to the next story and this is the one about jobs of a different kind
00:07well this morning in fact on the morning 6 a.m on 14th of september an email was sent out
00:15the email sent that today is your last working day that email was sent to oracle employees at
00:23six o'clock in the morning computer access gone voicemail gone files gone they were asked for
00:29personal email so hr could send the severance papers early estimates put this around seven to
00:38ten thousand jobs oracle hasn't confirmed a number some reporting today puts the actual figure closer
00:47to about five thousand so even a scale of today's cuts is contested but what isn't contested is that
00:53a company like oracle has shed about 21 000 jobs in just one year
01:02lack in 62 000 employees last may a lack in 41 000 this may 13 of the company gone
01:11and in the same year oracle's capital spending went up from 8.5 billion dollars to 28.5 billion it's
01:18planning to raise another 40 billion more in debt and equity to build ai data centers
01:25so before you put the two and two together ai and jobs be taken away listen to this nuance this
01:31isn't
01:32about ai simply taking jobs it's a company hollowing out one part of itself to feed the other cutting
01:40product teams hiring for ai infrastructure betting a whole company on a bet it hasn't really achieved yet
01:47but it's very clear but while that is happening at oracle at a global level what is the india piece
01:53in this well the india piece in this is still a little murky reports point to a product engineering
01:58taking a bigger hit support and consulting less so much but oracle hasn't put a number on india
02:04and we can't really report those figures till we have them authenticated and that's just about rung
02:12one of a much bigger ladder and if you want to look at this entire story of ai and jobs
02:18you have to look
02:19at how the ladder is really built up so in the next couple of minutes let's me
02:34jobs gone today rung two in this case would be already visible it's not that ai does everything
02:42it's that skills oracle pays for have shifted support and consulting roles relatively safe product
02:47engineering not so much that's not automation remember that's a company sort of deciding which
02:53humans are still required and then there is a rank three impact where it gets less probable
02:59oracle says ai coding tools let it run smaller teams doing more that a company is claiming that its
03:06systems are doing work that used to need a person to supervise only now maybe that's true
03:13maybe it's a line that looks good to investors nobody outside oracle can really check but then
03:17there is also rank four whether systems like that eventually get capable enough that humans can't
03:25meaningfully oversee them at all that's not the oracle story anymore that's an argument some ai
03:30researchers are having and it's genuinely unsettling oracle's layoffs don't prove or disapprove it it is
03:38just a template for any other company especially the big tech to keep in mind and for you to have
03:45the knowledge
03:47about what oracles actually proves is that rung one in two that the company is real the jobs are gone
03:53money is real the rest of the ladder is where the argument really starts and where you should be more
03:59skeptical of anyone who claims to know how it ends because we don't know where the story is going
04:03all we can read is patterns right now in companies like oracle and then we'll have to see how it
04:10translates also the india impact like i said is not known but we're looking a close eye so watch the
04:17space as we continue to track the story
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