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Tech giant Oracle rocked by another wave of layoffs
New York Post • • business
Key Points:
- Oracle conducted a third round of layoffs this year, sending termination emails at 6 a.m. Monday, informing affected employees that their roles were eliminated due to “broader organizational change.”
- Laid-off workers were instructed to immediately sign termination paperwork to receive severance packages, with access to company systems soon to be deactivated and strict prohibitions on retaining confidential information.
- Earlier rounds of layoffs in fiscal year 2026 led to the elimination of 21,000 full-time jobs, about 13% of Oracle’s global workforce, with severance and restructuring costs totaling $1.84 billion.
- Oracle attributed previous workforce reductions to restructuring, performance issues, strategic shifts, and acquisitions, while maintaining strong financial performance with $57 billion in revenue for fiscal year 2025.
- The company’s global workforce includes 141,000 employees, comprising 29,000 consulting experts and over 18,000 customer support specialists fluent in more than 20 languages.
