Google ranks second in €145.6bn EMEA bond market as Oracle cuts 491 jobs
Oracle will cut 491 Washington-based roles effective June 1 and may incur up to $2.1 billion in fiscal 2026 restructuring charges to ramp AI infrastructure spending and challenge Google’s cloud leadership. Alphabet became the second-largest issuer in EMEA’s record €145.6 billion Q1 bond market, highlighting its AI funding drive.
1. Oracle’s workforce cuts and AI investment
Oracle announced the layoff of 491 remote employees in Washington state, effective June 1, as part of a broader restructuring that could incur up to $2.1 billion in charges during fiscal 2026. The company is reallocating resources to expand its AI infrastructure and data-centre capacity to better compete with Google in cloud computing and enterprise AI.
2. Alphabet’s record bond issuance in EMEA
In the first quarter, corporate borrowers in Europe, the Middle East and Africa raised a record €145.6 billion in debt, with Alphabet positioned as the second-largest issuer after Amazon. Alphabet’s sizable bond offerings underscore its strategy to secure low-cost financing for scaling AI projects and strengthening its infrastructure across international markets.
3. Strategic implications for Google
Alphabet’s strong performance in the EMEA debt markets and Oracle’s reinvestment in AI highlight intensifying competition in cloud and AI services. Access to large-scale funding via bond markets provides Google with capital to accelerate AI research and infrastructure buildout, while keeping an eye on cost of capital and debt leverage metrics.