Oracle cut down its workforce by around 13 percent in fiscal year 2026.

As first reported by Reuters, the reduction in its workforce was revealed in the company's annual report published on Monday, June 22.

According to the filing, Oracle had 141,000 employees as of May 31, 2026, down from 162,000 the previous year - representing 21,000 job cuts over the 12-month period.

The company spent around $1.84bn in severance payments and exit costs, almost five times that in FY2025.

That significant job cuts have been made is not entirely surprising, with reports that the company has been reducing its workforce repeatedly surfacing over the last year.

A TD Cowen report published in February suggested that Oracle was evaluating a possible "reduction in force" of between 20,000 and 30,000 employees, hoping to generate some $8-10bn in free cash flow.

The company is undergoing a massive AI data center build-out and investing heavily in the process.

In addition to reducing its costs, Oracle is seeking to raise cash.

This year already, Oracle has raised around $45 billion in debt and equity to build data centers for cloud customers, including "AMD, Meta, Nvidia, OpenAI, TikTok, xAI, and others." This followed other significant fundraises last year. The company is facing a lawsuit from bondholders who have claimed that the company concealed how much debt it would need to sell to support the AI buildout for Oracle's $300 billion OpenAI deal.

During the company's recent earnings call, CFO Hilary Maxson said Oracle would look to raise $40bn in debt and equity in FY2027, including its "already announced $20bn at the market equity issuance," but did not "anticipate raising additional debt funding in calendar year 2026."

Capex in FY2026 was $55.6bn, expected to increase in 2027 to between $90 and $95bn.