Oracle Begins Layoffs Affecting Thousands, Shares Jump Amid AI Demand

Oracle is reportedly laying off thousands of employees, with 491 employees in Washington state and Seattle already notified of their layoffs. The job cuts are part of a broader reduction in force and other terminations, with the company having around 162,000 full-time employees globally. Oracle is stepping up spending on AI infrastructure to compete with cloud rivals, with expected total costs tied to its fiscal 2026 restructuring plan reaching up to $2.1 billion. Shares in the company climbed over 5% in afternoon trade, despite being down 29% this year.