Continuing its sweeping restructuring exercise, Oracle Corp. has entered the final phase of what is expected to be the largest workforce reduction in its history, with thousands of employees scheduled to officially leave the company between June 1 and June 15.
The technology giant is expected to complete the exit of nearly 30,000 employees, representing about 18% of its global workforce, according to a Tech Times report. The layoff was announced in March.
The Oracle Corp has stuck to its decision of layoffs despite reporting strong business momentum, particularly in its cloud and artificial intelligence segments.
In the third quarter of fiscal 2026, the company posted revenue of $17.2 billion, a 22% increase from a year earlier, driven by rapid growth in cloud services and AI infrastructure.
Cloud revenue climbed 44% year-on-year to $8.9 billion during the quarter, while Oracle Cloud Infrastructure's AI business recorded a 243% surge in revenue.
ALSO READ : Ethanol Push: Oil Minister Puri Expects E85 To Beat E20 In Adoption On Cheaper Price Point
Multicloud database revenue also jumped 531% from the previous year. The company reported GAAP net income of $3.7 billion for the quarter.
The workforce reduction is reportedly part of Oracle's broader strategy to reallocate resources towards AI infrastructure and cloud expansion.
The company has earmarked nearly $50 billion in capital expenditure for fiscal 2026, with a substantial portion set aside for data centres and AI-focused cloud projects.
Oracle is also a participant in Stargate, the large-scale AI infrastructure initiative backed by OpenAI and SoftBank. Company executives have reportedly said the restructuring is aimed at positioning Oracle for long-term growth as competition intensifies across the AI and cloud computing landscape.
Meanwhile, some affected employees have reportedly expressed concerns over severance terms, particularly the treatment of unvested stock awards.
ALSO READ : 'Momentum Remains Strong': PM Modi Lauds India's Q4 GDP Growth, Reaffirms 'Ease Of Doing Business' Pledge
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.