Oracle Cuts Over 200 Jobs In California As Earnings Release Nears - Stock Edges Up Premarket

Database giant Oracle Corp. (ORCL) has trimmed its workforce at three of its locations in California, according to the“Worker Adjustment and Retraining Notification” filings with the state on Tuesday.

The filings done to comply with the WARN Act of 1988 showed that the cuts were at Oracle's offices in Redwood City (187), Pleasanton (36) and Santa Clara (31). All the eliminations were listed as permanent and would take effect from Nov. 3. 

The eliminations come as the Larry Ellison-founded company prepares to release its financial results for the first quarter of the fiscal year 2026 after the market closes on Sept. 9.

According to the Fiscal consensus estimates, Oracle is expected to report earnings per share (EPS) of $1.48 and revenue of $15.03 billion, marking about 13% year-over-year (YoY) growth.

Oracle stock has gained about 35% year-to-date (YTD). On Stocktwits, retail sentiment toward the stock has turned to 'bearish' (34/100) as of early Friday, from 'bullish' a day ago. The message volume on the stream has tapered off to 'normal' levels.

Shares of the company were up more than 0.7% premarket on Friday.

Oracle, which was once a thriving on-premise database company, has evolved as technology transitioned to the cloud. It was among the companies to feature in the private artificial intelligence (AI) partnership facilitated by President Donald Trump's administration to build data centers across the country in a bid to maintain its technology leadership.

Oracle CEO Safra Catz was among the invitees to the lunch hosted by Trump for tech and business leaders at the White House on Thursday.

The San Francisco Chronicle earlier reported about the job cuts.

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