Oracle has increased funding for its restructuring plans for the current financial year by $500 million, with some observers anticipating a spate of job losses.<\/p>\n
In a call with investors earlier this week, co-CEO Mike Sicilia said that Big Red was using AI coding tools to reduce the size of engineering teams<\/a>, which can “deliver more complete solutions to our customers more quickly.”<\/p>\n He claimed that Oracle had just built three new customer experience (CX) applications, plus a new website generator.<\/p>\n Oracle has increased its debt burden in recent months, while financial researchers have suggested that the company may need to cut up to 30,000 jobs to help fund its AI datacenter spending commitments.<\/p>\n A regulatory filing<\/a> this week stated that Oracle\u2019s 2026 Restructuring Plan is increasing from $1.6 billion in Q2<\/a> to $2.1 billion in the quarter ending February 28. Oracle\u2019s financial year finishes at the end of May.<\/p>\n Oracle wowed the stock market<\/a> last year when it announced remaining performance obligations (RPOs) \u2014 contracts signed but not yet paid for \u2014 in the first quarter of its 2026 fiscal year of $455 billion.<\/p>\n It has since emerged that the $300 billion cloud compute contract with OpenAI alone would require Oracle to borrow roughly $100 billion over the next four years<\/a>. Big Red has raised $18 billion in debt<\/a> in an effort to fund a massive datacenter building program.<\/p>\n