Oracle (ORCL) Plans to Cut Thousands of Jobs as Data Center Expenses Climb, Bloomberg News Reports

Oracle Corporation (NYSE:ORCL) is one of the Goldman Sachs AI Stocks: Top 12 Stocks to Buy. On March 5, 2026, Reuters, citing a Bloomberg story, reported that Oracle Corporation (NYSE:ORCL) aims to lay off thousands of jobs as mounting costs from its artificial intelligence data center development strain its finances. The job cuts may begin as early as March 2026 and will touch numerous divisions, including roles that are likely to shrink due to AI adoption. The corporation is also reconsidering open roles in its cloud division, slowing down or freezing hiring. As of May 31, 2025, the firm has around 162,000 full-time employees.

Oracle Corporation (NYSE:ORCL) is raising capital expenditures to meet rising demand for computing power, with fiscal 2026 investment expected to jump $15 billion beyond the previously forecast $35 billion. The expansion serves clients like Meta, xAI, and OpenAI. The firm also intends to raise $45 billion to $50 billion to support cloud infrastructure growth. Investors are concerned about financial demands and growing debt. December results reported a $10 billion cash burn in the first half.

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Oracle Corporation (NYSE:ORCL) provides information technology-related products and services to enterprises through its main business segments: Cloud and License, Hardware, and Services. The company is based in Austin, Texas, and was founded in June 1977 by Lawrence Joseph Ellison, Robert Nimrod Miner, and Edward A. Oates.

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