Bearish
Oracle (ORCL) stock drops 2.55% to $146.65 amid new layoff plans
Oracle Corporation's stock declined by 2.55% to $146.65 following reports of additional layoffs. The company plans to reduce its workforce further, with some teams facing double-digit percentage cuts, aiming to lower payroll before the second fiscal quarter begins on September 1. This follows the elimination of 21,000 full-time positions in fiscal 2026.
Key points
- Oracle plans additional layoffs, with some teams facing double-digit percentage cuts.
- Oracle's stock price decreased by 2.55% to $146.65.
- Oracle's market capitalization is $427 billion, with a P/E ratio of 26.33.
Sources
AI-generated from public news sources. Not financial advice.
