Tech major Oracle Corp. (ORCL) reduced about 21,000 roles globally in fiscal 2026 amid the increasing use of artificial intelligence or AI in its operations, as per the firm's latest annual report.
In overnight trading, Oracle shares were losing around 2.15 percent, at $171.30, extending the loss of 5 percent on Monday's regular trading.
As of May 31, 2026, the company employed around 141,000 full-time employees, of which approximately 49,000 were employed in the U.S. and approximately 92,000 were employed internationally. In the same period last year, the company had employed about 162,000 workers globally.
In a filing with the U.S. Securities and Exchange Commission, the software and cloud computing firm noted that the adoption and deployment of AI technologies across its operations have resulted, and may continue to result, in reductions to workforce.
The company added that its periodic workforce restructurings and reorganizations can be disruptive.
In addition to AI impact, adjustments to workforce under its existing restructuring plan are in response to management changes, product changes, performance issues, changes in strategies, acquisitions and other internal and external considerations.
Oracle said added that it will continue to make workforce adjustments.
Oracle also warned that the restructurings may lead to a shortage in skilled workers in certain roles, increased restructuring costs and reduced productivity.
In the filing, the company reported that total estimated restructuring costs associated with the 2026 Restructuring Plan are up to $2.1 billion. The firm recorded $1.8 billion of restructuring expenses in connection with the 2026 Restructuring Plan in fiscal 2026.
Earlier in the year, Oracle reportedly laid off thousands of employees around the world amid pressure from investors due to its significant spending on AI infrastructure and declining cash flow.
As per reports, the surging adoption of AI has caused job cuts of more than 100,000 tech workers in the past year, including that of Amazon and Facebook-owner Meta Platforms.
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