Tech giant Oracle cuts 21,000 jobs
Digest more
Oracle carried out layoffs in March. A new filing shows how much smaller the workforce is compared to this time last year.
Wall Street likes Oracle’s cloud growth, but the company’s data-center bill is getting harder for investors to ignore.
The growing use of AI contributed to Oracle laying off 21,000 workers in a year, according to a Securities and Exchange Commission filing on Monday.
9hon MSN
Oracle's Headcount Fell by 21,000 as AI Reshapes Its Business. Here's What It Means for the Stock.
The job cuts made headlines. But the bigger story is what's funding them.
On June 22, Reuters reported that Oracle Corporation (NYSE:ORCL) reduced its workforce by 13%, or roughly 21,000 employees, during fiscal 2026.
Oracle (NYSE:ORCL | ORCL Price Prediction) at $175 looks compelling on the data. The stock has been pulled into the broader software compression trade even as its Q4 report revealed a $638 billion AI backlog that locks in years of forward revenue.
Oracle's financial position and doubts about its largest AI client have weighed on the stock.
Oracle said artificial intelligence caused some of its layoffs over the past year, along with the costs of its data center buildout.
