Oracle is reportedly moving forward with layoffs as the software giant looks to restructure its workforce amid an investment in building out AI infrastructure.

Oracle reportedly cut thousands of jobs on March 31 to cut costs as its AI projects grow. Oracle stock rose 5% after the news.

It’s unclear exactly how many employees lost their jobs, with reports ranging from 10,000 to 30,000. The latter would represent almost 19% of the company’s 162,000 workers.

Oracle's layoffs affect more than 230 software developers and an additional 48 software development employees in Washington and include workers in senior director and vice president roles.

Oracle is cutting staff as the company seeks to curb cost while it invest in AI infrastructure.

Oracle Corporation 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 is laying off 539 employees at its Kansas City campus as part of a nationwide cut to reallocate resources toward AI investments

Oracle layoffs: Employees across sales, HR, engineering, developer roles received an email from leadership at 6am (in all time zones) on Wednesday.