7/8/2022, 10:51 PM (Source: TeleTrader)
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Oracle discusses firing thousands of employees - report

Sources with knowledge of the matter told The Information on Friday that Oracle considered cost reductions of over $1 billion that could result in thousands of layoffs as early as August.

According to the report, the move would affect mainly the US and European staff. In addition, units such as marketing for software applications and e-commerce functions would also be impacted, the sources added.

Some executives would be irritated, as the company is simultaneously making investments to serve TikTok, one of its newest cloud customers. Oracle provides a comprehensive and fully integrated stack of cloud applications and platform services.

Baha Breaking News (BBN) / JG