Oracle workforce reduced by 21,000 employees, incurring $1.8 billion in restructuring costs
By
Polly Thompson
Summary
Oracle's workforce shrank by approximately 21,000 employees over the past year, costing the company $1.8 billion in severance and restructuring charges. The reduction includes layoffs carried out in March as part of cost-cutting measures while the company invests heavily in AI infrastructure. The filing reveals a significant downsizing compared to the same period last year.
Source
bskyOracle workforce reduced by 21,000 employees, incurring $1.8 billion in restructuring costsbusinessinsider.comKey quotes
· 3 pulledOracle has been finding ways to cut costs as it builds out AI infrastructure.
Oracle carried out layoffs in March.
A new filing shows how much smaller the workforce is compared to this time last year.
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