Oracle's workforce shrank by 21,000 employees (13%) in fiscal 2026, falling to 141,000.
The restructuring cost the company $1.84 billion, primarily in severance payments.
The company cited the adoption of artificial intelligence as a key driver of the workforce reductions.
India's tech ecosystem absorbed a heavy blow, with an estimated 10,000 jobs eliminated locally.
Read the full story on StartupFox