Oracle lays off hundreds in Seattle, again
seattletimes.com • • general
Key Points:
- Oracle laid off 491 employees in Seattle as part of broader company-wide reductions amid heavy investment in artificial intelligence infrastructure and a declining stock price.
- The layoffs primarily impacted staff at two downtown Seattle offices, which remain open despite the workforce reductions.
- Oracle's Seattle workforce has decreased by 757 employees since last year, alongside a shrinking physical office footprint, including the closure of its Bellevue office in 2024.
- The company's stock rose 6% following the layoff news but remains down nearly 25% for the year, reflecting ongoing financial pressures from AI-related capital expenditures.
- Oracle joins other tech giants like Meta, Microsoft, and Amazon in cutting jobs as they face the challenge of balancing high AI spending with cost reductions.
