Oracle begins new round of layoffs: Report
Per documents accessed by the publication, emails were sent to impacted employees across multiple departments. They were offered four week of base salary plus one week’s pay per year of employment.
Oracle has initiated a second round of layoffs, a repot by Business Insider has revealed. The software giant is seeking to cut payroll expenses, according to the publication. Emails were reportedly sent to affected staff in various departments, offering four weeks of base pay plus an additional week's pay for each year of service.
Some teams faced personnel cuts of over 10%, multiple sources have confirmed. The terminated employees were informed that their positions had been eliminated due to a larger organizational restructuring, with their dismissal effective immediately. This move follows a significant workforce reduction announced earlier this year, where Oracle's employee count fell by 21,000, or 13%, during the fiscal year ending May 31, 2026.
Around 12,000 of these positions were in India, as reported by ET. The number of employees affected by the latest layoffs has not been officially disclosed by Oracle, but estimates range from 7,000 to 10,000. The company's June-August quarter revenue grew by 30% to $19.3 billion, and it reported capital expenditures of $28.50 billion, including approximately $18 billion in net cash outlay.
For the second quarter, Oracle anticipates a revenue increase of 30% to 34%, and adjusted profit between $1.85 and $1.93 per share, both matching market expectations. However, Oracle's stock has suffered in the past year due to mounting concerns over substantial capital expenditure, which has affected its free cash flow. In July, S&P Global lowered Oracle's credit rating, citing weak cash flow and increasing business risk.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
