Global technology giant Oracle has reportedly laid off around 30,000 employees as part of a major restructuring move, sending shockwaves across the tech industry. The large-scale job cuts are believed to be linked to the company’s growing focus on artificial intelligence, cloud computing, and operational cost reduction.

The layoffs impacted multiple departments and regions, with India said to be among the most affected countries. Thousands of employees were reportedly informed suddenly, with many losing access to company systems soon after receiving notification. The sudden nature of the layoffs has raised concerns about job security in the rapidly changing tech landscape.

At the same time, Oracle founder Larry Ellison has reportedly witnessed a massive decline in personal wealth. Due to fluctuations in Oracle’s stock value and market conditions, his net worth is said to have dropped significantly, resulting in an estimated loss of nearly ₹18 lakh crore. The sharp fall highlights how volatile the tech sector can be, even for industry giants.

Experts believe Oracle is reallocating resources toward long-term investments in AI infrastructure and cloud services. These sectors require massive capital, and companies are increasingly trimming workforce expenses to support future growth.

The development reflects a broader trend in the global tech industry, where companies are restructuring operations, focusing on automation, and prioritizing emerging technologies. While Oracle continues to push forward with its AI ambitions, the layoffs and wealth decline mark a significant turning point for the company.