Oracle celebrates banner quarter with another round of layoffs
Congratulations on helping Larry Ellison's AI cloud boom. Now please pack your bags and go
Oracle's latest quarter saw a record revenue of $19.3 billion, up 30% year-over-year, as it continues to invest in AI infrastructure. Despite this financial success, the company has decided to lay off more employees, marking the fourth consecutive quarter of layoffs. Social media reports indicated that employees were unable to access corporate systems like email and Slack, signaling they had lost their jobs.
Some employees claimed they received layoff emails, stating, "After careful consideration of Oracle's current business needs, we have made the decision to eliminate your role as part of a broader organizational change." While the exact number of layoffs in this round is unclear, Oracle's restructuring budget for 2026 has been increased by $700 million.
Oracle's employees who have been with the company for 20 years were among those affected, having worked there for an average tenure of 12 years.
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- Oracle celebrates banner quarter with another round of layoffs theregister.com