Signal #128612POSITIVE

Oracle workforce shrinks by about 21,000 amid AI adoption

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STORY: Oracle's total workforce declined 13%, or about 21,000 employees, in its fiscal 2026.It's as the cloud computing giant continued restructuring its business...partly driven by the adoption of AI across its operations.The company had a total workforce of 141,000 as of May 31...down from about 162,000 as of the same period last year.Oracle's annual filing said it spent $1.84 billion in severance payments and other exit costs.It follows multiple reports earlier this year about Oracle cutting thousands of jobs.The company did not respond to a Reuters request for comment.Worries are quickly mounting over job losses due to AI disruption.196 tech companies laid off more than 119,000 employees so far this year...That's according to a website tracking sector-wide job cuts.Oracle has in recent months signed massive data-center deals with OpenAI and Meta...to compete more forcefully with rivals such as Amazon and Microsoft.However, unlike these tech giants who fund their substantial outlays...

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Oracle workforce shrinks by about 21,000 amid AI adoption | Steek AI Signal | Steek