Oracle, a leading US software company, has reduced its workforce by approximately 21,000 over the past 12 months.
According to Oxu.Az, this information is reflected in official documents filed with the US Securities and Exchange Commission (SEC).
As of the end of May, the company had 141,000 employees, down from 162,000 a year earlier. The financial charges related to the layoffs amount to about $1.8 billion.
Part of the mass layoffs is due to the replacement of employee functions by artificial intelligence. The company stated: "The integration of AI technologies into our operational procedures has led to a reduction in headcount, and this trend is likely to continue."
Since the beginning of 2026, Oracle's market capitalization has fallen by 10% to $530 billion.
