Oracle to Spend an Additional $700 Million on More Job Cuts

Oracle to Spend an Additional $700 Million on More Job Cuts

Sat, September 12, 2026 at 12:13 AM GMT+3 1 min read

• ORCL -1.74%

(Bloomberg) -- 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.

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The total costs associated with Oracle's "2026 Restructuring Plan" now are about $2.8 billion, largely made up of severance payments to fired employees, the company said Friday in a regulatory filing. Oracle has already accrued about $2.1 billion in costs tied to the plan, and the $700 million increase reflects "additional actions that we expect to take," the company said in the filing.

Oracle is under financial pressure because of an expensive build-out of AI data centers for customers like OpenAI. Earlier this year, it began cutting thousands of jobs as part of efforts to save cash, Bloomberg has reported. Business Insider reported last month that the company was drawing up plans for another round of cuts.

During a call with analysts Thursday, Chief Financial Officer Hilary Maxson called out "simplification and efficiency actions" as helping the company reduce costs and protect margins. As of the end of May, the company had about 49,000 US workers while about 92,000 were employed internationally. That's a decrease of 21,000 workers from a year earlier.

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