Oracle cuts 21,000 jobs, admits AI is reducing its workforce

The eliminations led to $1.8 billion in severance payments and other restructuring costs for Oracle, significantly higher than the $374 million restructuring costs it faced in the previous financial year. The software and cloud computing giant employed 141,000 people as of May 31, 2026, compared to 162,000 one year earlier, representing a 13% decline.