A trader works as a screen displaying the Oracle logo and trading information on the floor of the New York Stock Exchange (NYSE) in New York, the United States, March 9, 2026.
Brendan McDermid | Reuters
Software creator Oracle began telling employees it was making a series of layoffs, two people familiar with the matter told CNBC.
The layoffs number in the thousands, said the people, who asked not to be identified discussing a confidential matter.
As of May 2025, the company employed 162,000 people.
Oracle shares have fallen 27% so far this year as investors mull the competitive risk of generative businesses. artificial intelligence models, as well as the effect of infrastructure investments on Oracle’s cash flow.
Oracle declined to comment.
While continuing to expand its flagship database for storing and serving enterprise information, Oracle has increased its capital spending by building data center infrastructure capable of handling AI workloads.
In September, Oracle revealed that its remaining performance obligations, a measure of contractual revenue that has not yet been recognized, jumped 359% to $455 billion following a deal with OpenAI worth over $300 billion. A few weeks later, Oracle selected frames Mike Sicilia and Clay Magouyrk to replace its CEO, Safra Catz.
Oracle relies on the debt market to finance its construction. In January, Oracle announced plans to raise $50 billion in debt and equity. During last month’s earnings, Oracle executives said there were no further plans to raise debt in 2026.
Business Insider reported on the layoff announcements earlier Tuesday.
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