Oracle cuts 21,000 jobs as AI adoption trims workforce
Oracle just cut 21,000 jobs in the past year, dropping its workforce from 162,000 to 141,000.
The company says these layoffs are partly because it is using more artificial intelligence (AI) across its operations.
As Oracle put it in its SEC filing, "the adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce."
Oracle $1.8B restructuring, $55.7B data spend
These layoffs cost Oracle $1.8 billion in restructuring fees and have caused concerns about skill shortages and lower morale among remaining staff.
Still, Oracle is doubling down on tech, spending $55.7 billion last year to boost its data centers for major clients like OpenAI.
CEO Mike Sicilia recently highlighted how advanced AI coding tools are helping improve its cloud services, even as financial pressures played a role in the job cuts.