Tech giant Oracle sheds 21,000 jobs in a year as AI replaces some roles

Here is a story making headlines in the economy: Tech giant Oracle sheds 21,000 jobs in a year as AI replaces some roles9 minutes ago Share Save Add as preferred on GoogleOsmond ChiaBusiness reporterGetty ImagesOracle co-founder Larry EllisonUS technology giant Oracle shed about 21,000 roles globally in the last year as it reshapes its business around artificial intelligence (AI), its latest annual report shows. The software and cloud computing firm says it had around 141,000 full-time employees as of 31 May 2026, down from about 162,000 workers at the same time last year. The "deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," the report says.

The cuts are part of a wider trend among tech firms as they spend hundreds of billions of dollars on adopting AI and building infrastructure like data centres. Amazon and Facebook-owner Meta have cut thousands of job in recent months as they invest heavily in AI. More than 100,000 people at tech workers have been laid off in the past year, according to estimates from employment tracking firms.

Economic Details

Oracle made "significant" job cuts in April, according to senior employees posting online, but the full extent of the layoffs had not been revealed until its annual report was filed. The firm said the cuts have led to about $1. 36bn) in severance payments and other restructuring costs in the past year.

The sum is significantly higher than the $374m restructuring bill in the previous financial year. Oracle said that its restructuring efforts "can be disruptive". It warned that the reorganisation may lead to a shortage in skilled workers in certain roles, resulting in a loss of productivity that could impact its earnings.

The has contacted Oracle for further comment. Oracle has been in a race to roll out data centres for AI giants like OpenAI and Meta. The previously reported that Oracle planned to spend at least $50bn on infrastructure this year.

The company was co-founded by Larry Ellison, one of the richest people in the world, who also serves as Oracle's chief technology officer. Tech CEOs suddenly love blaming AI for mass job cuts.

Financial markets are tracking the development closely as investors assess the likely impact.