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Tue, 23 Jun 2026

Tue, 23 Jun 2026 Tech giant Oracle cuts 21,000 jobs as it embraces AI

The cuts are part of a wider trend among tech firms as they spend hundreds of billions of dollars on AI.

* Oracle co-founder Larry Ellison remains its chief technology officer and has overseen significant job cuts at the company.
* Oracle shed around 21,000 roles globally in the last year as it reshapes its business around artificial intelligence (AI).
* The company had around 141,000 full-time employees as of May 31, down from about 162,000 workers at the same time last year.
* The cuts are part of a wider trend among tech firms investing heavily in AI, with Amazon and Facebook-owner Meta also cutting thousands of jobs recently.
* Oracle's restructuring efforts have led to around $1.8bn in severance payments and other costs over the past year.
* The company has warned that its reorganisation may lead to shortages in skilled workers and a loss of productivity that could impact earnings.
* Oracle is investing heavily in AI infrastructure, with plans to spend at least $50bn on infrastructure this year.
* Many tech firms are cutting jobs as they invest in AI, including Amazon which is planning to cut 30,000 jobs over several rounds of layoffs.