US-based Rackspace Technology cuts 750 jobs as it pivots towards AI

Rackspace Technology, US-based global cloud computing and IT services firm, announced it will cut 15% of its global workforce amid shift towards AI. This could affect 750 employees. "This…is predominantly driven by the company's…decision to deemphasise certain legacy service delivery functions…in favour of redeploying resources towards its enterprise AI buildout," read the firm's SEC filing.