Story perspectives

Oracle expands 2026 restructuring, adds $700M in costs

By Drooid · Sep 15, 2026, 3:17 AM UTC · How we work

Summary

Oracle Expands Layoffs

Oracle Corp cut additional jobs on Sept. 14, expanding its 2026 restructuring plan.
Oracle added $700 million to restructuring costs, lifting total to $2.8 billion.
Oracle's revenue jumped 30% to $19.3 billion in the quarter.
Oracle's AI contract backlog reached $664 billion.
Oracle shares slipped 3.7% to $150.28 after CEO Larry Ellison scrapped a $7.5 billion share-sale plan.

Summary

Employer Sends Early Dismissals

The company sent termination emails at 6 a.m. after lockouts disabled email, VPN, and Slack.
Laid-off staff had to provide a personal email address for severance documents via DocuSign.
Severance packages offered four weeks’ pay plus an additional week for each year of service.
EU law experts said the abrupt dismissals may breach the 30-day consultation rule of the Collective Redundancies Directive.

History

Historical Context

In April 1993, IBM hired outsider Lou Gerstner as CEO and launched a restructuring that cut roughly 100,000 jobs and shifted the firm toward integrated e-business, later boosting market value from $29 billion to $168 billion. Oracle’s September 14 layoffs under CEO Larry Ellison echo that pattern, prompting EU regulators to examine compliance with the Collective Redundancies Directive.

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Oracle Expands Layoffs

Oracle Corp cut additional jobs on Sept. 14, expanding its 2026 restructuring plan.
Oracle added $700 million to restructuring costs, lifting total to $2.8 billion.
Oracle's revenue jumped 30% to $19.3 billion in the quarter.
Oracle's AI contract backlog reached $664 billion.
Oracle shares slipped 3.7% to $150.28 after CEO Larry Ellison scrapped a $7.5 billion share-sale plan.

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