Oracle reduced its workforce by about 21,000 employees over the past year, a nearly 13% drop, due to the adoption of AI technologies across its operations. The company incurred $1.8 billion in restructuring costs, up from $374 million the previous year, reflecting severance and exit expenses. Oracle warned that these cuts could disrupt productivity and morale, while it continues to invest heavily in AI infrastructure, raising $50 billion through debt and equity. Shares fell nearly 3% on the news and are down about 13% this year.
Oracle reduced its workforce by nearly 13%, cutting 21,000 jobs to 141,000 employees as of May 2026, citing AI technology deployment as a key factor. The company spent $1.8 billion on restructuring costs, a significant increase from the previous year...
Major tech companies are expected to spend about $750 billion on AI development this year, primarily funded through debt rather than cash reserves. This marks a shift from the past decade when these firms self-funded growth, making them less sensitiv...
Oracle reported its largest quarter ever with $19.18 billion revenue and 93% growth in cloud infrastructure, yet shares fell due to massive capital expenditures. The company expects $70 billion in capex for FY27, causing free cash flow to turn negati...
Baystate Health is expanding its partnership with Oracle Health to implement AI-powered digital tools across its hospitals, practices, and health plan. This initiative aims to improve patient care coordination, reduce administrative burdens, and stre...
Major tech companies like Amazon, Alphabet, Microsoft, and Meta are borrowing billions to fund massive AI data center expansions, making them more vulnerable to rising borrowing costs amid Federal Reserve rate hikes. This shift marks a change from th...
