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Forbes Daily Briefing

Oracle Fires Thousands Of Employees As AI Spending Ramps Up

Forbes Daily Briefing

Forbes

Business, Tech News, News

4.418 Ratings

🗓️ 1 April 2026

⏱️ 3 minutes

🧾️ Download transcript

Summary

Follow ⁠Forbes Talks⁠ .  Oracle on Tuesday conducted a round of layoffs affecting thousands of employees, citing “current business needs,” according to multiple reports, resulting in a rise in the software maker’s stock as it plans to ramp up spending on AI this year. KEY FACTS Oracle notified thousands of employees they would be cut on Tuesday, CNBC reported, citing people familiar with the move. It’s not immediately clear why the employees were let go, though a company memo obtained by Business Insider cited “careful consideration of current business needs.” Oracle employed 162,000 people as of May 2025, the last time the company reported employment figures, according to a Securities and Exchange Commission filing. Shares of Oracle rose by 2.5% as of noon Tuesday, marking positive traction for the stock that has declined more than 27% this year. An Oracle spokesperson declined to comment on the layoffs to Forbes. Read the full story on Forbes: ByTy Roush https://www.forbes.com/sites/tylerroush/2026/03/31/oracle-fires-thousands-of-employees-as-ai-spending-ramps-up-shares-rise-2/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:22.5

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0:28.5

Tax rules apply. Oracle laid off thousands of employees on Tuesday, a move the company attributed to

0:35.7

quote, current business needs.

0:38.0

Following the announcement, the software maker stock rose as it plans to increase spending

0:42.8

on AI this year, according to multiple reports.

0:46.6

Oracle notified thousands of employees they would be cut on Tuesday, CNBC reported, citing

0:51.6

people familiar with the move.

0:53.9

It's not immediately clear why the

0:55.6

employees were let go, though a company memo obtained by Business Insider cited, quote,

1:01.1

careful consideration of current business needs. Shares of Oracle rose by 2.5% as of

1:07.0

noon Tuesday, marking positive traction for the stock that has declined more than 27% this year.

1:13.6

The company said in January it planned to raise $50 billion in debt and equity, though

1:19.0

executives indicated earlier this month they no longer had plans to raise debt in 26.

1:25.1

TD Cohen Analyst in January wrote that Oracle could free up to $10 billion in cash flow if the firm cut up to 30,000 employees.

1:34.0

An Oracle spokesperson declined to comment on the layoffs to Forbes.

1:38.4

Oracle employed 162,000 people as of May 2025, the last time the company reported employment figures according

1:45.8

to a securities and exchange commission filing. Oracle projected $50 billion in spending for

1:51.5

26, up from earlier guidance of $35 billion as the company anticipates growing cloud in

1:57.7

AI demand. Oracle, like other mega-cap firms, has raised its estimates to meet growing demand for AI products

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