# Oracle Rescinded 50-Plus Offers to IIT Graduates, Citing 'Internal Restructuring'

**[TRUE STORY]** — by via DataDriven · Q1 2026 tech hiring report

Oracle rescinded more than fifty offers to IIT graduates in early 2026, citing "internal restructuring" — part of a wave that saw 52,050 tech jobs cut in Q1 alone, the highest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.

*Source: [DataDriven · Q1 2026 tech hiring report](https://datadriven.io/blog/data-engineer-interview-loop-2026-7-rounds-still-ghosted)*
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