Oracle cut 21,000 jobs as AI buildout continues

Oracle cut 21,000 jobs as AI buildout continues Daniel Howley · Technology Editor Tue, June 23, 2026 at 2:59 PM GMT+2 2 min read ORCL Oracle ( ORCL ) has cut some 21,000 jobs over the past year as the company continued its massive push into the AI data center space. In its annual 10-K filing with the Securities and Exchange Commission , Oracle said it had some 141,000 full-time employees. That's down from the 162,000 the company reported in 2025.

The layoffs come as Oracle spends massive sums on AI facilities. In its fiscal 2026, Oracle spent $55. 7 billion on capital expenditures.

That's a 162% increase from the $21. 2 billion it spent in fiscal 2025. Adjusted revenue for 2026 was $67.

4 billion. That spending has sent Oracle's free cash flow plummeting nearly 6,000% to -$23. 7 billion.

But Oracle has also reported remaining performance obligations (RPOs) worth $638 billion, up from $138 billion last year. The company has a five-year, $300 billion deal to provide data center capacity to OpenAI ( OPAI. PVT ), one of its largest AI agreements.

RPOs are the value of contracts that Oracle has signed but must still deliver on before it can realize the revenue. Oracle isn't alone in spending on AI. Amazon ( AMZN ), Google ( GOOG , GOOGL ), Meta ( META ), and Microsoft ( MSFT ) are expected to spend a combined $725 billion this year on AI-related expenses, including purchasing chips, building data centers, and developing new AI models.

Meta, like Oracle, has cut roughly 8,000 jobs during its AI build-out, while Microsoft has offered employee buyouts. Amazon has also cut some 30,000 positions. Investors remain cautious about Oracle's approach to its AI plans.

The company's stock price is down 10% year to date and more than 14% over the past 12 months. Amazon stock, meanwhile, is up 11% over the past year, while Google is up 107%. Microsoft is down 23%, and Meta is off 17%.

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