Oracle cuts 21,000 jobs as AI push reshapes company; plans $70 billion spending spree

Oracle reduced its workforce by about 13%, or nearly 21,000 employees, during fiscal 2026 as the company continued a major restructuring of its business, a move that comes as artificial intelligence plays a bigger role across its operations.

According to Oracle’s annual report released on Monday, the company had 141,000 employees as of May 31, 2026. A year earlier, it employed around 162,000 people.

According to Layoffs.fyi, a website that tracks job cuts in the tech sector, 196 technology companies have laid off more than 119,800 employees so far this year.