A trader works as a screen showing the logo and trading information for Oracle on the floor of the New York Stock Exchange (NYSE) in New York City, US, on March 9, 2026.
Brendan McDiarmid | reuters
software developer Oracle It has begun telling employees it is conducting a round of layoffs, two people familiar with the move told CNBC.
The people said the layoffs numbered in the thousands, said the people, who spoke on condition of anonymity to discuss a confidential matter.
By May 2025, the company employed 162,000 people.
Oracle shares have fallen 27% so far this year as investors consider the impact of infrastructure investments on Oracle’s cash flows along with competitive risks from generative artificial intelligence models.
Oracle declined to comment.
Along with advancing its flagship database for storing and serving corporate information, Oracle has increased its capital spending as it builds out data center infrastructure that can handle AI workloads.
In September, Oracle disclosed that its remaining performance obligations, a measure of contracted revenue that has not yet been recognized, increased 359% to $455 billion following a more than $300 billion settlement with OpenAI. A few weeks later, Oracle replaced its CEO Safra Catz with executives Mike Sicilia and Clay Maguire.
business insider The layoff announcements were first reported Tuesday.
