Oracle cuts 21,000 jobs as AI reshapes operations

• Oracle cut 21,000 jobs over the past 12 months
• AI adoption and cost management drove the headcount decline
• Shares fell 5% following the disclosure of the workforce reduction

Oracle Layoffs: Oracle Corp. reduced its workforce by 21,000 employees over the past 12 months, a much steeper decline than previously disclosed, according to a Bloomberg report citing the company’s annual

regulatory filing.

The software giant said its global headcount fell to 141,000 full-time employees as of May 31, down from 162,000 a year earlier. Oracle also acknowledged that the adoption of artificial intelligence technologies had contributed to some of the job reductions.

The cuts resulted in about $1.8 billion in restructuring costs and come as Oracle ramps up spending on AI data centers for customers such as OpenAI. Earlier this year, the company began laying off thousands of employees as part of efforts to manage costs.

Oracle shares plunged 5% on Monday to close at $175.07 after the company disclosed that its workforce shrank by 21,000 employees over the past year. The stock touched an intraday high of $184.58 before falling to a low of $174.40.