Oracle has cut about 21,000 jobs, or 13% of its global workforce, as it reshapes operations around artificial intelligence and cloud growth.
The company said its headcount fell to roughly 141,000 in fiscal 2026 from 162,000 a year earlier. Restructuring costs, including severance, rose to $1.84 billion. Even as it trims staff, Oracle is spending nearly $70 billion this year on data centres and cloud infrastructure.
The company has also won major AI-related deals with OpenAI and Meta, showing how quickly the technology is changing both business plans and workplace needs for companies and workers alike across the global tech industry today.