Oracle raises its restructuring estimate to $2.8B while capex triples to $28.5B.

Oracle added about $700 million to a plan previously estimated at up to $2.1 billion and began another layoff wave with early-morning termination emails (Calcalist). Headcount fell about 21,000, roughly 13%, during fiscal 2026, with TD Cowen estimating the new round could reach 20,000 to 30,000. Capital expenditures reached $28.5 billion in the quarter ended August 31, up from $8.5 billion a year earlier. Shrink the people-heavy applications business to fund the asset-heavy inference business. That's the SaaS trade stated in one balance sheet.