Bearish
Oracle (ORCL) stock drops 3.76% to $150.52 amid new layoff plans
Oracle's stock declined by 3.76% to $150.52 following reports of additional layoffs. The company plans further workforce reductions, 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.
- The company aims to reduce payroll before the second fiscal quarter starts on September 1.
- Oracle previously eliminated 21,000 full-time positions in fiscal 2026.
Sources
AI-generated from public news sources. Not financial advice.
