business π Oracle planning more layoffs despite AI push
Oracle is reportedly preparing for another round of job cuts this month to manage payroll costs. The tech giant is targeting reductions before its second fiscal quarter starts on September 1. This follows earlier cuts where Oracle dropped 21,000 employees in fiscal 2026. These moves happen while Oracle heavily invests in AI infrastructure, spending $55.7 billion in fiscal 2026. The company plans to raise an extra $40 billion through debt and equity this fiscal year.