Oracle has not confirmed how many employees are affected. But investment bank TD Cowen estimates the cuts could total between 20,000 and 30,000 workers—roughly 18 percent of its global workforce of about 162,000—according to the Next Web.

The cuts come as the software giant invests billions of dollars in expanding its artificial intelligence infrastructure.

Oracle filed 2,690 H-1B petitions in fiscal year 2025 and another 436 so far in fiscal year 2026, taking the total to more than 3,100

Shares of Oracle rose by 2.5% as of noon Tuesday, marking positive traction for the stock that has declined more than 27% this year. An Oracle spokesperson declined to comment on the layoffs to Forbes.

Severance includes 4 weeks base salary plus 1 week per year of employment.

Wall Street is telling investors that Oracle's future is bleak, but it may not be as troubled as some investors fear.

Additional attacks on Thursday included attacks on a US diplomatic facility near Baghdad Airport and an Amazon cloud computing center in Bahrain. Iran's Islamic Revolutionary Guard Corps (IRGC)

Oracle plans to cut thousands of jobs which will free up cash flow as the company aggressively invests in its AI data center buildout.