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00:02Oracle's total workforce fell 13% in fiscal 2026 as the company continued restructuring its business,
00:09partly driven by AI adoption across its operations, according to Reuters.
00:12The company had 141,000 employees as of May 31, down from about 162,000 a year earlier.
00:20Oracle spent $1.84 billion on severance payments and other exit costs tied to restructuring
00:26activity, up from $374 million in the prior fiscal year.
00:30The filing said the workforce changes reflected management and product changes, performance
00:35issues, strategic shifts, and acquisitions.
00:38The cuts came as Oracle signed major data center deals with OpenAI and Meta.
00:42Oracle said it expects net capital expenditure of about $70 billion in the current fiscal
00:47year and plans to raise another $40 billion in debt and equity.
00:51For all things money, visit Benzinga.com.
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