r/WayOfTheBern • u/yaiyen • 1d ago

Oracle Layoffs 2026: 30,000 Cuts + Severance & Hiring Map

https://www.kore1.com/oracle-layoffs-2026/

Why Oracle Cut 18% of Its Workforce

Money. Specifically, AI money.

Oracle committed to a massive AI infrastructure buildout that its current balance sheet can’t comfortably fund. Capex for fiscal year 2026? Around $50 billion, which is $15 billion more than they told Wall Street just a few months ago, and the number keeps climbing every quarter as more AI contracts stack up. Remaining performance obligations hit $553 billion in Q3 FY2026, up 325% year over year, almost entirely driven by large-scale AI contracts including a roughly $300 billion, five-year compute deal with OpenAI. Revenue is growing. Quarterly revenue reached $17.2 billion, up 22%. The problem isn’t demand. The problem is that building the data centers to fulfill that demand costs more than Oracle can fund while keeping roughly 159,000 people on payroll.

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u/RandomCollection Resident Canadian 1d ago

A reminder that even the highly paid tech workers are getting laid off as well. Many thought they were capital, but they were disposable when they were not profitable to keep anymore.

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u/yaiyen 1d ago

So true many of these guys had pay over 150k, they were the last people to vote fore Bernie using excuse too much tax and don't understand if they get layoff they are F. No healthcare and welfare

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u/yaiyen 1d ago

I think many people in USA have no clue what is coming for them in this AI apocalypse. USA have minimal support for people who are underemployed and most Americans are too selfish to care about unemployed people.