STORY: :: Oracle
Cloud computing firm Oracle is laying off thousands of employees.
That's according to reports by CNBC on Tuesday, citing two people familiar with the matter.
A notice filed by the firm the same day said it would lay off nearly 500 employees in Washington state from June.
The company said the job cuts are part of a "reduction in force and other terminations," adding that its Seattle sites will remain open.
Oracle declined to comment on the CNBC report.
Several posts were seen on social media platforms, sharing details of the potential cuts, fueling uncertainty and confusion among employees.
The company had about 162,000 full-time employees globally as of May 2025.
:: Oracle
Now the layoffs come as Oracle steps up spending on AI infrastructure.
Shares in the company closed around 6% higher, but remained down about 25% this year.
Tallies by website Layoffs.fyi show more than 70 tech companies have cut over 40,000 jobs so far this year, as firms increasingly reallocate resources toward AI.
