Oracle plans additional layoffs this month, with some teams facing double-digit percentage cuts

Published Aug 12, 05:00 PM UTC

Oracle is planning another round of job cuts this month, with some teams facing double-digit percentage reductions, according to Business Insider. This follows a fiscal year in which the company eliminated 21,000 full-time positions (13% of its workforce) and spent most of its $2.1 billion restructuring budget, leaving roughly $300 million remaining. The cuts aim to lower payroll before the second fiscal quarter begins September 1. Oracle's headcount stood at approximately 141,000 as of May 31. The company has attributed part of the workforce reduction to internal AI adoption and expects further cuts as AI deployment grows. Meanwhile, Oracle has been heavily investing in AI data center construction, borrowing $43 billion in debt and raising $5 billion through stock sales in fiscal 2026, with plans to secure another $40 billion in fiscal 2027. Cloud infrastructure revenue grew 77%, but the stock has fallen over 20% this year, and shareholders have sued over statements regarding borrowing for a $300 billion OpenAI commitment.