The Digester

Oracle plans up to 30,000 job cuts as banks pull back on AI data center financing

Mar 8th 2026

Research from TD Cowen reported by CIO says Oracle may cut 20,000 to 30,000 roles and sell assets after several US banks pulled back from financing its large AI data center expansion.

  • TD Cowen research reported by CIO says Oracle may cut 20,000 to 30,000 jobs to raise cash for AI data centers.
  • TD Cowen estimates the company needs about $156 billion in capital expenditures to expand AI data center capacity, including projects tied to OpenAI.
  • Several US banks have recently withdrawn from lending to Oracle for its data center buildout, creating major financing pressure.
  • Oracle could sell assets, including the Cerner health unit, and is asking some customers to supply their own hardware to shift costs.
  • The job cuts would free an estimated $8 billion to $10 billion in free cash flow, according to the report.
  • Oracle has not publicly confirmed new layoffs and said separately it expects to raise $45 billion to $50 billion in 2026 to add cloud capacity.

Sources

livemint.com