Oracle cut 21,000 jobs in a year as AI reshaped operations
Why it matters: The reductions cost Oracle about $1.8 billion and left its workforce below pre-Cerner levels.
Oracle cut 21,000 employees over the past 12 months, bringing its global full-time workforce to 141,000 as of May 31 from 162,000 a year earlier, according to its annual regulatory filing. The company said adopting and deploying artificial intelligence across its operations led to some job reductions and could drive more cuts ahead. Oracle booked about $1.8 billion in restructuring costs tied to the layoffs. The company is under pressure from heavy spending on AI data centers for customers including OpenAI. Oracle said it had about 49,000 workers in the United States and roughly 92,000 internationally at fiscal year-end. Its headcount now sits slightly below where it was before the 2022 acquisition of Cerner.