Oracle cuts 21,000 jobs, admits AI is reducing its workforce
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A hot potato: As tech executives' narrative around AI-related job losses becomes one of "things aren't that bad" and even "what job losses?" Oracle has reduced its workforce by 21,000 people this fiscal year while acknowledging that AI played a big role in the cuts.
The eliminations led to $1.8 billion in severance payments and other restructuring costs for Oracle, significantly higher than the $374 million restructuring costs it faced in the previous financial year. The software and cloud computing giant employed 141,000 people as of May 31, 2026, compared to 162,000 one year earlier, representing a 13% decline.
There are several factors behind the cuts, according to Oracle's SEC filing. These include management and product changes, performance issues, strategic shifts, and acquisitions.
A shortage of cash is also playing a part –...
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