Oracle cutting thousands in latest layoff round as AI spending booms
A trader works as a screen displays Oracle’s logo and trading information at the New York Stock Exchange (NYSE) on March 9, 2026 in New York City, United States.
Brendan McDermid | Reuters
software manufacturer Seer He began telling employees he was carrying out a series of layoffs, two people familiar with the move told CNBC.
The layoffs are in the thousands, said the people, who asked not to be identified to discuss a confidential matter.
As of May 2025, the company employs 162,000 people.
Oracle’s shares have fallen 27% so far this year as investors ponder the competitive risk from generative AI models as well as the impact of infrastructure investments on Oracle’s cash flow.
Oracle declined to comment.
Oracle has increased capital spending as it continues to develop its flagship database for storing and serving enterprise information, while building out data center infrastructure that can handle AI workloads.
In September, Oracle announced that remaining performance obligations, a not-yet-recognized measure of contracted revenue, rose 359% to $455 billion following a $300 billion-plus deal with OpenAI. Weeks later, Oracle named executives Mike Sicilia and Clay Magouyrk to replace CEO Safra Catz.
Business Content It announced the layoffs early Tuesday.
— CNBC’s Seema Mody contributed to this report.
