Oracle adds $700 million to job-cut costs, taking restructuring bill to $2.8 billion amid AI push

Oracle Corp. increased the scale of its planned job cuts while the company grapples with a cash crunch tied to development of large-scale data centers for artificial intelligence work.

The company also disclosed a new share trading program for Chairman Larry Ellison, who owns about 40% of Oracle’s stock. The plan, which was adopted June 22, permits Ellison to sell 50 million shares through Oct. 24, the company said in a regulatory filing.