Oracle to lay off thousands as AI centers cost billions

Business Mar 06, 2026

Oracle is set to lay off thousands of employees soon, as it doubles down on building massive AI data centers.
Some of the cuts are said to be aimed at job categories expected to be needed less because of AI, and will impact several teams across the business.

To pay for big leap, Oracle plans to raise $50bn

Under Chairman Larry Ellison, Oracle is racing to catch up with Amazon and Microsoft in cloud and AI. To pay for this big leap, Oracle plans to raise up to $50 billion this year.
While its stock soared last year, shares have since dropped sharply over concerns about rising costs.
The layoffs are part of a bigger trend—other tech giants like Microsoft are also trimming staff as AI reshapes the industry.