Oracle plans thousands of job cuts

Oracle is planning ⁠thousands ⁠of job cuts as it faces a cash crunch from a massive AI data centre expansion effort, Bloomberg News reported.

Long a ‌smaller contender in the cloud market, ‌over ‌the past year Oracle has ‌emerged as a major player ⁠in the business of renting computing power thanks, in part, to its US$300 billion ($429.4 billion) deal with OpenAI.

But investors have grown worried about how it ​would fund the data centre expansion needed to serve OpenAI and other customers, including ⁠Elon Musk's xAI and Meta.

The software company, chaired by billionaire Larry Ellison, in February outlined plans to raise US$45 billion to US$50 billion this year in order to expand its cloud infrastructure, fuelling investor concerns about its rising debt load.

The layoffs will impact divisions across Oracle and may be ​implemented as soon as this ⁠month, the Bloomberg report said, citing ⁠people familiar with the matter.

Some cuts will be aimed at ​job categories that the company expects will shrink ‌due to ⁠AI.

The planned reductions are expected to be wider reaching than Oracle's typical rolling job cuts, according to Bloomberg.

This week, Oracle announced ‌internally that it would be reviewing many of the open job listings in its cloud division, effectively slowing down or freezing the hiring process, ​the report added.

Oracle declined to comment when contacted by Reuters.

The company had about 162,000 full-time employees as of May 31, ‌2025, according ⁠to its annual ​filing with the US Securities and Exchange Commission.