Oracle admits it has cut 21,000 jobs, admits 'deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce'
- Oracle now has around 141,000 workers, down from 162,000 in 12 months
- The company spent $1.84 billion in severance and related costs last year
- Billions to be raised by means of new debt and equity to fund AI plans
Despite recently confirming record revenues of $67.4 billion in its just-closed fiscal year, marking a 17% rise, Oracle has laid off an estimated 21,000 workers during that same 12-month period.
The company confirmed it had around 141,000 workers on the books as of May 2026, but when it made the same report last year, it had around 162,000 employees.
However despite record revenue and drastic cost-cutting measures, share prices are down around 15% in one year largely due to concerns over massive AI-driven capex.
Inside Oracle's massive AI strategy
In a filing, the company noted that the layoffs had been impacted by various factors, including management and product changes, performance issues,...
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