Lates News

According to Business Insider, Oracle (ORCL.N) has launched a new round of layoffs, with people familiar with the matter saying the cuts are expected to begin on Monday. The outlet reported last month that Oracle had drawn up a new round of layoffs aimed at cutting salary costs, as the company accumulates billions of dollars in debt to fund AI infrastructure buildout. According to internal documents, layoffs in some teams reached double-digit percentages. According to the company's recent filings, Oracle's headcount fell by 21,000, or 13%, in fiscal 2026 ended May 31. Oracle said it had about 141,000 employees before the latest round of layoffs began. Oracle has accumulated tens of billions of dollars in debt to build data centers, betting on growing AI demand. Oracle reported first-quarter capital expenditure of $28.5 billion, up from $8.5 billion a year earlier, and maintained its fiscal 2027 capital expenditure forecast at between $90 billion and $95 billion.