Oracle workforce shrinks by about 21,000 employees amid AI adoption
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
June 22 : Oracle's total workforce declined 13 per cent, or about 21,000 employees, in fiscal 2026, as the cloud computing giant continued restructuring its business, partly driven by the adoption of AI across its operations.
The company had a total workforce of 141,000 as of May 31, 2026, compared with about 162,000 as of the same period last year, according to its annual report released on Monday.
Oracle spent $1.84 billion in severance payments and other exit costs related to the restructuring activities in fiscal 2026, significantly higher than the $374 million spent in the previous fiscal year, the filing showed.
It also said in its filing that the workforce adjustments were in response to various factors, including management and product changes, performance issues, strategic shifts and acquisitions.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
The decline in the workforce follows multiple reports earlier this year about Oracle cutting thousands of jobs. The company did not respond to a Reuters request for comment.
Worries are quickly mounting over job losses due to AI disruption, as 196 tech companies laid off more than 119,800 employees so far this year, according to Layoffs.fyi, a website tracking sector-wide job cuts.
A smaller player in the cloud-computing industry for a long time, Oracle has in recent months signed massive data-center deals with OpenAI and Meta to compete more forcefully with rivals such as Amazon and Microsoft.
However, unlike these tech giants who fund their substantial outlays through large cash flows, Oracle has had to resort to burning cash and issuing debt. Shares of the company were down about 10 per cent this year.
Oracle said earlier this month that it expects net capital expenditure of around $70 billion in its current fiscal year. To fund that, it will raise another $40 billion in debt and equity, including a previously announced $20 billion stock issuance.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app