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Oracle has begun executing what analysts believe is the largest layoff in company history, cutting an estimated 20,000 to 30,000 employees — roughly 18% of its global workforce — to free up $8–10 billion in cash flow for AI data center expansion. The cuts, delivered via impersonal 6 a.m. emails across the U.S., India, Canada, and Mexico, come as Oracle carries over $100 billion in debt, faces a negative $24.7 billion trailing free cash flow, and risks a credit downgrade to near-junk status.