The real story isn’t that Wall Street doubts Oracle — it’s that they’re buying every bit of the spin. The market’s reaction after the earnings call just hands leadership a license for more cuts.
To be fair, none of us should be shocked. Everyone who signed on here knew the culture, the playbook, and the trade-offs. Oracle has always been masterful at controlling optics: Salesforce and others get front-page coverage for layoffs, while Oracle quietly trims headcount in the shadows.
The 10-K makes it plain — only a fraction of the 2026 restructuring has hit the books. That’s a roadmap, not a surprise. And while Larry takes the crown as the wealthiest man alive, thousands are out of work. That’s not “new,” it’s just the ethos we all bought into.
For those still employed, don’t confuse relief with security. The market just rewarded this strategy, which means we’ll see it again.