Oracle Corporation (NASDAQ:ORCL) is in the spotlight Tuesday after the company disclosed it shed 21,000 jobs, nearly 13% of its workforce, over the past year, citing the adoption and deployment of artificial intelligence across its operations.
The Layoffs According to CNBC, Oracle's total workforce stands at 141,000 full-time employees as of May 2026, down from 162,000 the previous year, according to the company's annual regulatory filing.
The company spent $1.8 billion on restructuring costs including severance payments and other exit costs, a sharp jump from the $374 million it spent on restructuring the prior year.
The layoffs come as Oracle faces significant pressure over its AI buildout costs—the company announced plans to raise $50 billion in debt and equity in January, its free cash flow in the last fiscal year came in at negative $23.7 billion, and capital expenditure jumped 162% to $55.7 billion.
"The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," Oracle said in the filing.
