The Austin, Texas-based company disclosed in an annual regulatory filing earlier this year that its total workforce decreased by roughly 21,000 employees from 2025, costing the company roughly $2.1 billion mostly through severance packages and contract terminations.
Those cuts affected 741 Seattle-area employees between August 2025 and March, which, coupled with this week’s layoffs, means 1,100 Oracle workers in Seattle have been let go since last summer.
In a quarterly regulatory filing, Oracle addressed its 2026 restructuring plan and said it took further action after the fiscal year ended on Aug. 31, costing an additional $700 million and causing this week’s layoffs.
Oracle did not immediately respond to a request for comment.
For those who didn’t know it, oracle is in trouble.
Their bonds have been cut to near junk status as they tried to compete with the other hyper-scalers. The Ellisons leverage the company to buy paramount and now Warner. Then the Warner merger went to hell and they are bleeding cash. While everything they do at paramount loses them money.
And they’re doing it with promises of OpenAI money. Of all the large AI model companies, I see OpenAI is at the most risk.