Oracle, Salesforce, and Meta cut thousands of roles while reporting surging profits and AI infrastructure spending of $135 billion.
Oracle eliminated 21,000 jobs over the past year, reducing headcount by 13%, even as adjusted earnings per share rose 27%. Severance costs surged to $1.8 billion, while future contracted revenue hit $553 billion, up 325%. The company’s stock has fallen over 10% this year.
Salesforce followed a similar pattern, cutting 4,000 customer support roles in late 2025 and additional jobs in January and June. CEO Marc Benioff attributed the reductions to AI agents handling more work, with Agentforce revenue growing 205%. Meta also laid off 8,000 employees while increasing capital expenditure guidance to $135 billion for AI infrastructure.
The trend reflects a broader shift as tech firms prioritize AI investment over workforce expansion, despite record profitability. Polling suggests public frustration with the disconnect between corporate earnings and job cuts.