Technology
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Oracle adds $700 million to restructuring job cuts
NDTV··12 Sept
Oracle raised the estimated cost of its 2026 Restructuring Plan to about $2.8 billion. It added $700 million for further job cuts, a regulatory filing said. The company had already accrued about $2.1 billion, mostly severance. Chairman Larry Ellison, who owns about 40 percent of the stock, may sell 50 million shares through Oct. 24.
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What It Means For You
- The filing ties the extra $700 million to additional restructuring actions Oracle expects to take.
- Most of the plan cost is severance for employees who lose jobs under the cuts.
- Ellison's trading plan allows sales of up to 50 million shares through Oct. 24.
What's Happening
- BusinessLine said Oracle faces a cash crunch tied to large AI data centre build-outs.
- CFO Hilary Maxson cited simplification and efficiency actions on an analysts call Thursday.
- US headcount was about 49,000 at end-May. International employment was about 92,000, down 21,000 from a year earlier.
Ellison Share Plan Value
- Oracle shares closed June 22 at $175.07 when the trading plan was adopted.
- That priced 50 million shares at about $8.75 billion at the time.
- The shares had declined 16 percent from that close through Friday, the report said.
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