- Oracle Corp. has started staff reduction within its marketing and customer experience divisions in the U.S, mainly impacting its offices in San Francisco Bay Area.
- Oracle intends to cut its expenditure up to $1 billion with these layoffs.
- Canada, India, and parts of Europe offices are also expected to face workforce reduction in the coming weeks and months.
Oracle has allegedly started staff reduction within its marketing and customer experience divisions in the U.S. This strategy is most likely a result of the divisions’ growth failure versus to rest of the company’s services last year as well as cost reduction strategy and the company’s focus on recent cloud investments.
Canada, India, and parts of Europe’s workforce are next
A publication in July reported that Oracle was planning to reduce thousands of jobs in its worldwide workforce with cost cuts targeting up to $1 billion. According to its latest annual report, the software giant had about 143,000 full-time employees as of May 31. Oracle’s axing employee news has already been circulating across a career platform Linkedin with the employees sharing their redundancy experience. The recent layoffs are mainly affecting the offices in San Fransisco Bay Area. But reports suggested that Canada, India, and parts of Europe are also expected to face workforce cuts in the coming weeks and months.
So far, the cuts have included sales division directors, junior sales employees, and the customer experience division, which provides analytics and advertising. The job reductions come after Oracle’s recent investments in cloud technology for health care and its cloud business with TikTok, a video application owned by China-based ByteDance.
Furthermore to Oracle’s cutting workforce, there have been reports of other giant companies such as Microsoft Corp, Alphabet Inc, and Apple Inc. plan to cut their workforce due to pricing costs and soaring inflation globally according to reports.