Oracle, 21 firms to face IIT hiring freeze after reneging on job offers: Report | Today News

The report states that Oracle has been carrying out large-scale workforce reductions through 2025 and 2026 as it restructures its business while increasing spending on AI and data centres. According to the same report, published by livemint.com, Oracle's global workforce fell by about 21,000, or 13%, to 141,000 employees in fiscal 2026.

The figures the report gives for Oracle are a reduction of about 21,000 people, equal to roughly 13% of the global workforce, and a remaining headcount of 141,000 for fiscal 2026. The reductions are described as taking place through 2025 and 2026, alongside increased spending on AI and data centres. The hiring freeze covers Oracle and a further 21 firms. The trigger given is the withdrawal of job offers that had been made to students, described in the headline as reneging.

The report also states that IIT placement teams are trying to help the students whose offers were withdrawn. It says the teams are sharing those students' CVs with companies that already recruit from IIT campuses. The workforce reductions and the campus hiring freeze are covered in the same article, which is published by livemint.com and presented as a report, with the headline indicating that the freeze follows the withdrawal of the offers.