Oracle Can Fire ‘Thousands Of Employees’ In Next Few Weeks; Indian Employees Can Also Get Impacted
Sources said that the American multinational technology giant, Oracle Corp has started to lay off employees in the United States.
It appears that Cloud major Oracle has started laying off employees ahead of its quarterly earnings.
Reportedly, the affected staff took to social media to reveal they have been asked to go, on Tuesday.
Earlier, Oracle was considering cutting thousands of jobs in its global workforce after targeting cost cuts of up to $1 billion as per the media reports in july.
As per the Oracle’s latest annual report, it had about 143,000 full-time employees as of May 31.
Who Got Affected?
These latest layoffs at Oracle are most likely to affect the employees at its offices in the San Francisco Bay Area, as per the Monday’s report.
Although, it did not mention the number of employees affected.
So far, Oracle did not respond to a Reuters request for comment.
Moreover, most of the reports of job cuts came in the fields of CX pre-sales engineers and marketing.
As the report mentioned that “One person reported all of the CX Commerce team was gone,”.
But, it seems that these layoffs appear to be across a wide range of roles be it be analyst relations, talent acquisition, CRM or developers.
These job cuts affected employees including recent hires to workers with over 20 years of service.
One user wrote on Thelayoff, “Hearing overall layoff numbers are pushing 10,000. That would roughly make sense if they want to save $1 billion overall,”.
Although, Oracle is yet to comment on the development.
Why Did This Happen?
Reports also suggest that the potential layoffs came as Oracle closed its $28 billion acquisition of electronic healthcare records firm Cerner.
As per the company’s website, the acquisition brought in about 28,000 Cerner employees.
Further, this report also mentions that the said layoffs in Canada, India and parts of Europe were expected in the coming weeks and months.
Technology giants Microsoft Corp, Alphabet Inc and Apple Inc have also discussed cuts or a slowdown in hiring plans in response to rising costs and fears of a recession.