Oracle set aside another $700m to pay for laying people off.
Oracle told regulators on Friday that its 2026 job cuts will now cost $2.8 billion, up $700 million. The extra money is severance, after the company shed about 21,000 staff in its last financial year. It is cutting to help pay for the data centres it is building for OpenAI.
Why it mattersThe bill for the AI build-out is now landing on payrolls, not just on power grids. Oracle is one of the first big firms to show that trade in plain numbers.
Read in the app — free, in 9 languages
Related stories
Nvidia will put $3 billion into Meta's sale of new shares.2026-10-27Microsoft is offering buyouts to about a quarter of its staff.
2026-10-27Researchers using AI agents got inside Anthropic in under 12 hours.
2026-10-26Meta will sell up to $95 billion of new shares to pay for AI.
2026-10-26Most of Anthropic's $81 billion loss exists only on paper.
2026-10-26