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I’ve been through exactly the same cycle. It’s draining to put your best effort into projects when you know management views you as nothing more than a line item to be optimized away. The constant attrition makes it impossible to build any real momentum, and morale hits rock bottom every time a new round of cuts starts. Honestly, the smartest move at this point is to stop overextending yourself and dedicate that energy to your own exit strategy. You owe it to your sanity to find a workplace that actually values your time.
Hang in there. It’s brutal, but Oracle has operated this way for years; it’s practically part of the corporate culture at this point. When the cycle starts, the best advice I can give is to detach emotionally from the company and treat your job purely as a transaction. Keep your head down, do the bare minimum required to maintain your reputation, and keep those interviews lined up elsewhere. There is no point in burning yourself out for an organization that is clearly planning to let you go anyway.