The company spent $1.84 billion in severance and exit costs related to restructuring in fiscal 2026, up sharply from $374 million in the prior year, according to its annual report, the report said.

Oracle attributed the workforce reductions to management and product changes, performance issues, strategic shifts, and acquisitions, with AI adoption across its operations also cited as a contributing factor, according to the report.

Oracle did not immediately respond to a request for comment from MT Newswires.

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