# 34 US-based tech multi national company Oracle’s mass layoffshave been in headlines for past weeks.

*business · news · 2026-04-08 · NewsX*

## Key points

- Oracle's $300 billion cloud deal with OpenAI is driving its largest-ever restructuring and layoffs.
- Oracle's annual capital expenditure surged to $48 billion, mainly funded by debt for AI datacentres.
- Oracle's debt now exceeds $100 billion, with negative free cash flow nearing $25 billion.
- OpenAI reportedly redirected capacity away from Oracle, with Meta as a potential replacement tenant.
- Severance costs from Oracle's layoffs may reach $1.6 billion, with 12,000 employees cut in India.

**Companies:** Oracle
**Countries:** United States, India

[Read the full story on NewsX](https://www.newsx.com/business/is-chatgpt-responsible-for-oracle-layoffs-300-billion-cloud-deal-adds-financial-pressure-stock-falls-54-on-wall-street-195653/)

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