Oracle to cut 30,000 jobs amid cloud and AI pivot
Oracle is set to lay off about 30,000 employees, roughly 18% of its global workforce, by June 15, 2026.
This move comes even as the company's revenue jumped 22% in the third quarter of fiscal 2026 (Q3 fiscal 2026) to $17.2 billion.
The layoffs are part of Oracle's shift toward fast-growing areas like AI and cloud technology.
Oracle faces severance and stock complaints
Oracle's cloud and AI divisions are booming: cloud revenue rose 44%, while AI-related revenues shot up by more than 200%.
The company committed nearly $50 billion in capital expenditure for fiscal 2026 in new data centers and infrastructure.
However, some departing employees aren't happy with capped severance payouts and the exclusion of unvested stock awards.
Petitions for better terms have reportedly been turned down.