Oracle Announces Additional $700 Million in Restructuring Costs for Further Job Cuts
Oracle Corp has announced an additional $700 million allocation to its ongoing restructuring efforts, bringing the total cost of its '2026 Restructuring Plan' to approximately $2.8 billion. The funds will largely cover severance payments as part of further job cuts aimed at addressing a cash crunch caused by costly investments in AI data centers for clients like OpenAI. The company has already incurred about $2.1 billion under the plan and is preparing additional workforce reductions, according to a regulatory filing. Oracle CFO Hilary Maxson highlighted cost-cutting measures during an analyst call as essential steps toward improving efficiency and protecting profit margins. The total global workforce of Oracle stood at around 141,000 employees by May 2026, down from about 162,000 a year earlier.
Tickers: $ORCL
Topics: AI data centers financial pressure job cuts Oracle restructuring