Oracle fell more than 5% in U.S. premarket trading on Sept. 14, with Bitget market data showing the stock at $142.45. The move came as the company began a new round of layoffs, with a person familiar with the matter saying the cuts were expected to start on Monday this week. Internal documents indicate that some teams are facing layoffs in the double-digit percentage range.
The latest cuts follow a plan Oracle had already drawn up in August to reduce payroll costs. That effort came as the company accumulated billions of dollars in debt to fund artificial intelligence infrastructure. Recent filings show Oracle’s workforce declined by 21,000, or 13%, in fiscal 2026 through May 31. Before the latest round started, the company said it had about 141,000 employees.
Oracle has also taken on tens of billions of dollars in debt to build data centers tied to its bet on rising AI demand. The company reported first-quarter capital expenditures of $28.5 billion, up from $8.5 billion a year earlier, and kept its fiscal 2027 capex forecast at $90 billion to $95 billion.
Oracle shares fell more than 5% in U.S. premarket trading on Sept. 14, with Bitget market data showing the stock at $142.45.
The move came as Oracle started a new round of layoffs. A person familiar with the matter said the cuts were expected to begin on Monday this week. Internal documents show that some teams are seeing layoffs in the double-digit percentage range.
Layoff plan had been set in August
Oracle had already drawn up a new layoff plan in August aimed at reducing payroll costs. The company was accumulating billions of dollars in debt to fund artificial intelligence infrastructure.
Headcount fell in fiscal 2026
According to recent company filings, Oracle’s workforce fell by 21,000, or 13%, in fiscal 2026 through May 31. Oracle said it had about 141,000 employees before this latest round of layoffs began.
The company has also taken on tens of billions of dollars in debt to build data centers as it bets on growth in AI demand.
Capital spending remains elevated
Oracle reported first-quarter capital expenditures of $28.5 billion, up from $8.5 billion in the same period a year earlier. It also maintained its fiscal 2027 capital expenditure forecast at between $90 billion and $95 billion.
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