By Altaf Hussain
Publication Date: 2026-06-05 17:13:00
Oracle Corp. continues its comprehensive restructuring effort and has entered the final phase of what is expected to be the largest workforce reduction in its history. Thousands of employees are expected to officially leave the company between June 1st and 15th.
According to a Tech Times report, the tech giant is expected to complete the exit of nearly 30,000 employees, representing about 18% of its global workforce. The layoff was announced in March.
Oracle Corp stuck to its layoff decision even as it reported strong business momentum, particularly in its cloud and artificial intelligence segments.
In the third quarter of fiscal 2026, the company reported revenue of $17.2 billion, up 22% year over year, driven by rapid growth in cloud services and AI infrastructure.
Cloud revenue rose 44% year-over-year to $8.9 billion.
