Oracle Starts To Lay Off Its Workforce Ahead of Quarterly Earnings: Report

Oracle Starts To Lay Off Its Workforce Ahead of Quarterly Earnings: Report

San Francisco: Cloud major Oracle has started laying off employees ahead of its quarterly earnings, as the affected staff took to social media to reveal they have been asked to go, the media reported on Tuesday. The Registrar said that Oracle staff is reporting layoffs across LinkedIn, Twitter and thelayoff.com, and it can affect its workforce in the US, Europe and India in the coming months. Most reports of job losses came in the fields of CX pre-sales engineers and marketing. Oracle Quietly Closes $28B Deal to Buy Electronic Health Records Company Cerner.

“One person reported all of the CX Commerce team was gone,” the report mentioned.

However, the layoffs appear to be across a wide range of roles — from analyst relations to talent acquisition, to CRM to developers. Affected employees are recent hires to workers with over 20 years of service.

“Hearing overall layoff numbers are pushing 10,000. That would roughly make sense if they want to save $1 billion overall,” wrote one user on Thelayoff.

Oracle was yet to comment on the development. In June, Oracle, which employs about 143,000 people globally, reported 5 per cent growth in fiscal 2022 revenue to $42.44 billion.

Last month, The Information reported citing sources that Oracle considered laying off thousands of workers to save up to $1 billion in cost-cutting measures. The proposed job cuts could “disproportionately impact US and Europe-based workers in units such as marketing for software applications that automate customer service and e-commerce functions”.

The potential layoffs came as Oracle closed its $28 billion acquisition of electronic healthcare records firm Cerner. The acquisition brought in about 28,000 Cerner employees, according to the company’s website.

(The above story first appeared on Onhike on Aug 02, 2022 03:05 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website onhike.com).

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