01:06 PM EDT, 08/13/2025 (MT Newswires) -- Oracle (ORCL) has reduced headcount in its cloud division as the software giant seeks to curb costs while investing heavily in artificial intelligence infrastructure, Bloomberg reported Wednesday, citing people familiar with the matter.

According to the report, the affected staff were informed this week, with some layoffs linked to performance concerns.

In a June filing, the company said it regularly adjusts its workforce in response to strategy changes, reorganizations, or performance-related factors, Bloomberg reported.

Oracle didn't immediately respond to a request for comment from MT Newswires.

Shares of the company were down more than 3% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources, but may include rumor and speculation. Accuracy is not guaranteed.)

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