2 min learnUp to date: Jun 23, 2026 08:15 AM IST
Oracle’s whole workforce declined 13 per cent, or about 21,000 workers, in fiscal 2026, because the cloud computing big continued restructuring its enterprise, partly pushed by the adoption of AI throughout its operations.
The corporate had a complete workforce of 141,000 as of Might 31, 2026, in contrast with about 162,000 as of the identical interval final yr, in accordance to its annual report launched on Monday.
Oracle spent $1.84 billion in severance funds and different exit prices associated to the restructuring actions in fiscal 2026, considerably increased than the $374 million spent in the earlier fiscal yr, the submitting confirmed.
It additionally stated in its submitting that the workforce changes have been in response to varied components, together with administration and product adjustments, efficiency points, strategic shifts and acquisitions.
The decline within the workforce follows a number of experiences earlier this yr about Oracle chopping hundreds of jobs. The corporate didn’t reply to a Reuters request for remark.
Worries are shortly mounting over job losses on account of AI disruption, as 196 tech firms laid off greater than 119,800 workers thus far this yr, in keeping with Layoffs.fyi, an internet site monitoring sector-wide job cuts.
A smaller participant within the cloud-computing trade for a very long time, Oracle has in current months signed large data-center offers with OpenAI and Meta to compete extra forcefully with rivals resembling Amazon and Microsoft.
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Nevertheless, not like these tech giants who fund their substantial outlays by way of massive money flows, Oracle has needed to resort to burning money and issuing debt. Shares of the firm have been down about 10 per cent this yr.
Oracle stated earlier this month that it expects internet capital expenditure of round $70 billion in its present fiscal yr. To fund that, it’ll increase one other $40 billion in debt and fairness, together with a beforehand introduced $20 billion inventory issuance.