The Austin, Texas-based company disclosed in an annual regulatory filing earlier this year that its total workforce decreased by roughly 21,000 employees from 2025, costing the company roughly $2.1 billion mostly through severance packages and contract terminations.

Those cuts affected 741 Seattle-area employees between August 2025 and March, which, coupled with this week’s layoffs, means 1,100 Oracle workers in Seattle have been let go since last summer.

In a quarterly regulatory filing, Oracle addressed its 2026 restructuring plan and said it took further action after the fiscal year ended on Aug. 31, costing an additional $700 million and causing this week’s layoffs.

Oracle did not immediately respond to a request for comment.

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[–] 7 points 1 week ago

Their bonds have been cut to near junk status as they tried to compete with the other hyper-scalers.

And they're doing it with promises of OpenAI money. Of all the large AI model companies, I see OpenAI is at the most risk.

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