yahoo news | Oracle axes over 700 workers — the first wave in a bloodbath that could engulf 3... Oracle has begun the first wave of a massive layoff that could ultimately affect up to 30,000 employees, with California state filings showing that roughly 700 workers will be let go by June 1. The cuts are slated for 310 staff in Redwood City, 184 in Santa Clara, 158 in Pleasanton and 50 in Santa Monica, on top of 491 terminations already recorded in Seattle. The move follows a broader “bloodbath” announced by the software giant, which had 162,000 global employees as of May 2025. Analysts at TD Cowen earlier this year warned that Oracle might slash as many as 30,000 jobs while it sells assets to fund its push into AI infrastructure. Oracle’s downsizing is part of a wider tech‑sector contraction that saw companies lay off 52,050 workers in the first quarter of 2026—a 40 % increase over the same period last year, according to Challenger, Gray & Christmas. Other California‑based tech firms such as Qualcomm and Meta are also filing mass‑layoff notices, and the wave of cuts has already driven up unemployment rates in the San Francisco Bay Area. The layoffs have sparked controversy on social media, especially after data revealed Oracle filed roughly 3,126 H‑1B petitions for fiscal years 2025‑2026, highlighting a contrast between hiring foreign talent and shedding domestic staff. Despite moving its headquarters from Silicon Valley to Austin in 2020 and then to Nashville in 2024, Oracle retains a significant Bay‑Area workforce. The company recently reported a 22 % revenue jump to over $17 billion for the fiscal third quarter and announced the hiring of Hilary Maxson from Schneider Electric as its new chief financial officer. Read more: https://nypost.com/2026/04/08/business/oracle-axes-over-700-workers-the-first-wave-in-a-bloodbath-that-could-engulf-thousands-across-california/ #oracle #tdcowen #siliconvalley