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FOX Business host Charles Payne unpacks AI disruption fears on Making Money.<\/p>\n
Oracle on Tuesday reportedly began notifying employees that it is moving forward with a round of layoffs as the company looks to reduce costs.<\/p>\n
The number of layoffs in the thousands, according to a\u00a0report by CNBC that cited two people familiar with the matter.<\/p>\n
Oracle has recently ramped up capital spending to build\u00a0artificial intelligence (AI) data centers as the company looks to incorporate those tools into its business software services.<\/p>\n
The company’s stock has been volatile over the last year amid the AI buildout, with shares up about 3.5% in the last year despite declines of 48% in the last six months and 25% year to date amid concerns that AI presents a competitive threat to software providers. Shares rallied over 4% during Tuesday’s trading session on the layoff news.<\/p>\n
HSBC WEIGHS DEEP JOB CUTS AS AI OVERHAUL UNFOLDS: REPORT<\/p>\n
Oracle reportedly announced layoffs Tuesday. (David Paul Morris\/Bloomberg via Getty Images)<\/p>\n
Business Insider reviewed copies of the layoff notification email sent to affected employees, which informed them they will be eligible to receive a severance package after signing their termination paperwork.<\/p>\n
“After careful consideration of Oracle’s current business needs, we have made the decision to\u00a0eliminate your role as a part of a broader organizational change,” the email reviewed by the outlet said. “As a result, today is your last working day.”<\/p>\n
META SLASHES ROUGHLY 700 JOBS; LAYOFFS HIT MULTIPLE TEAMS ACROSS THE COMPANY<\/p>\n
Ticker Security Last Change Change % ORCL ORACLE CORP. 146.86 +8.10
\n +5.84%<\/p>\n
Oracle’s most recent 10-K filing noted the company had about 162,000 full-time employees in May 2025.<\/p>\n
The company said in a March filing that it expects the total costs associated with its\u00a0restructuring plan in fiscal year 2026 to be as high as $2.1 billion, most of which would go to employee severance and related expenses.<\/p>\n
META EYES MASSIVE 20% WORKFORCE CUT AS AI INFRASTRUCTURE COSTS CONTINUE TO SOAR ACROSS OPERATIONS: REPORT<\/p>\n
Oracle CTO Larry Ellison announced AI investments last year at the White House. (Andrew Harnik\/Getty Images)<\/p>\n
Tech companies are\u00a0reassessing their workforces amid the rise of AI as they look to shift resources to meet infrastructure needs.<\/p>\n
Meta announced layoffs affecting a few hundred people across multiple teams last week, and Reuters previously reported that Meta was planning sweeping layoffs that could affect 20% or more of its workforce.<\/p>\n
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Reuters contributed to this report.<\/p>\n
#Oracle #informs #employees #layoffs #buildout #report<\/p>\n","protected":false},"excerpt":{"rendered":"
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