Oracle expands job cuts as 2026 restructuring costs rise to $2.8 billion amid AI spending
- Oracle increased its planned job cuts as it faces rising costs from building AI data centres for clients.
- The company’s 2026 Restructuring Plan now costs about $2.8 billion, mainly for severance, up from $2.1 billion already accrued.
- CFO Hilary Maxson said efficiency measures were helping reduce costs and protect profit margins amid the restructuring.
- Separately, Chairman Larry Ellison adopted a plan on June 22 to sell 50 million Oracle shares through October 24.
Source: ndtv.com
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