Oracle cut about 21,000 jobs, which is a 13% reduction in its workforce, during fiscal 2026 as it restructured operations and accelerated its shift toward AI-driven technologies . The company spent heavily on severance costs and is taking on significant new debt to fund massive data‑center expansion deals with OpenAI and Meta. These moves come amid broader tech‑sector layoffs and Oracle’s push to compete more aggressively with cloud leaders like Amazon and Microsoft.