By Swastika Das Sharma
Publication Date: 2026-02-02 03:13:00
Oracle Layoffs: Tech giant Oracle plans to cut up to 30,000 jobs to fund AI data centers, according to a new report.
Oracle will also sell some of its operations as U.S. banks pull back from investing in the company’s AI data center expansion, according to a report from CIO citing a research report from investment bank TD Cowen.
The Layoffs at Oracle According to the report, there will be job cuts of around 20,000 to 30,000 employees.
“Both equity and debt investors have raised questions about Oracle’s ability to finance this expansion,” TD Cowen said in its report, according to the CIO.
The financing pressure is already straining Oracle’s customer relationships. The company had previously undertaken projects to build data centers for Sam Altman’s OpenAI – a commitment that TD Cowen estimates to be around $156 billion. However,
In recent weeks, several U.S. banks have pulled back from lending to Oracle to expand their businesses AI data centers.
