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In this rapidly evolving AI era, Middle Eastern companies are urged to treat workforce impacts as a core planning element to manage AI-driven job displacement effectively. By focusing on transparency, institutional support, and leveraging global examples like JPMorgan Chase's strategic redeployment plans, businesses can transform potential crises into opportunities for growth.
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Oracle Announces Monumental Layoffs, Slashing 30,000 Jobs Globally
Oracle has announced its largest wave of layoffs, cutting 30,000 jobs worldwide, with 12,000 affected in India alone. Severance packages are causing a stir due to regional disparities and perceived lack of generosity when compared to industry standards. In the US, employees may receive up to 26 weeks of pay, while Indian staff face more conditional offers. The tech giant's abrupt move has sparked widespread criticism from employees and the public alike.