Oracle workforce shrinks by about 21,000 employees amid AI adoption
https://www.yahoo.com/finance/technology/ai/articles/oracle-workforce-shrinks-13-204431510.html
Oracle's total workforce declined 13%, 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.
The decline in the workforce follows multiple reports earlier this year about Oracle cutting thousands of jobs. The company did not immediately 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.