Oracle's $300 billion OpenAI partnership announced last year strains finances
NewsBytes | April 30, 2026 6:49 PM CST
Oracle facing 20,000 to 30,000 layoffs
With expansion projects in Texas and Wisconsin, Oracle's debt has soared past $100 billion, causing its stock to drop by half and raising worries about credit downgrades.
To cope, the company has already cut 10,000 jobs and is expected to lay off 20,000 to 30,000.
That's nearly one in five employees facing layoffs—the biggest shakeup Oracle has ever seen.
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