Oracle cut 13% of staff as AI infrastructure spending hit $55.7B
Oracle reduced its workforce by 21,000 people, nearly 13%, as it redirected resources toward cloud and AI products while spending heavily on infrastructure. Its full-time headcount fell from 162,000 to 141,000 in a year, while restructuring costs, including severance and other exit costs, rose from $374 million to $1.8 billion. Capital expenditure jumped 162% to $55.7 billion, and free cash flow turned negative at $23.7 billion.