Oracle Rescinded 50-Plus Offers to IIT Graduates, Citing 'Internal Restructuring'

Oracle rescinded more than fifty offers to IIT graduates in early 2026, citing "internal restructuring" — part of a wave that saw 52,050 tech jobs cut in Q1 alone, the highest first quarter since 2023. The rescissions arrived amid a broader pullback: 66 percent of CEOs told surveyors they are freezing or cutting hiring through year-end to redirect budget toward AI infrastructure.