Oracle has raised the cost of its 2026 restructuring by $700M to about $2.8B, covering actions it says it expects to take, and disclosed a plan letting Larry Ellison sell 50 million shares by 24 October. Roughly 92,000 of its 141,000 staff work outside the US, and in the EU collective redundancies require consultation, written notice to the authorities and a 30-day standstill.
Oracle has raised the cost of this year’s job cuts by $700M to about $2.8B, Bloomberg reported, most of it severance. It has already booked around $2.1B of that.
The increase covers “additional actions that we expect to take“, the company said in a filing. Those cuts have not happened yet. Chief financial officer Hilary Maxson told analysts that “simplification and efficiency actions” were helping protect margins.
Most of the people who could be affected are not American. Oracle had about 49,000 staff in the US at the end of May and roughly 92,000 elsewhere, after headcount fell about 13% in a year to 141,000.
In the European Union, actions a company expects to take run on a statutory clock.
