Oracle cuts 700 jobs

Oracle’s latest cuts showed up first in a government filing, not in an earnings miss. California records say about 700 Oracle workers are set to lose their jobs by June 1 after notices tied to March 31 layoffs. (edd.ca.gov) (economictimes.indiatimes.com) The biggest single site was Redwood City with 310 roles, followed by Santa Clara with 184, Pleasanton with 158, and Santa Monica with 50. Those numbers matter because they show this was not one office shutting down, but a spread across several California hubs at once. (economictimes.indiatimes.com) (rwcpulse.com) California’s Worker Adjustment and Retraining Notification law is why the public can see this at all. The state says employers generally must give 60 days’ notice before a mass layoff, which is why these cuts appear on paper weeks before the separation date. (edd.ca.gov) (usatoday.com) What makes the layoffs unusual is that Oracle is not shrinking because sales collapsed. On March 10, 2026, Oracle reported quarterly revenue of $17.2 billion, cloud revenue of $8.9 billion, and cloud infrastructure revenue of $4.9 billion, with the infrastructure piece growing 84 percent from a year earlier. (oracle.com) Oracle also said its remaining performance obligations reached $553 billion in that same quarter. That is basically a giant stack of signed future business, and Oracle said much of the jump came from large artificial intelligence contracts. (oracle.com) To keep up with those contracts, Oracle said in February that it planned to raise up to $50 billion in debt and equity financing. The company said the money was tied to expanding the computing capacity needed for artificial intelligence workloads, which are far more expensive than ordinary business software. (oracle.com) (channeldive.com) That is the trade now running through big technology companies: fewer people in some teams, more money for chips, power, and data centers. Oracle’s own filing said many of its new artificial intelligence deals are backed by customer prepayments or customer-supplied graphics processing units, which shows how hardware-heavy this push has become. (oracle.com) Reports outside Oracle have floated much larger layoff numbers, including estimates as high as 30,000 jobs, but Oracle has not publicly confirmed a total on that scale. What is confirmed is the California wave, and separate reporting has also pointed to additional cuts in places like Seattle. (forbes.com) (economictimes.indiatimes.com) Oracle’s 2025 annual report listed Austin, Texas as its principal executive office, but these notices landed in the Bay Area cities where Oracle still has a large footprint. So the story is not a company in retreat. It is a profitable company moving money from payroll into an artificial intelligence buildout that looks more like utility construction than old-school software. (sec.gov) (oracle.com)