Oracle to layoff 3,500 employees

Oracle to layoff 3,500 employees

Oracle, a prominent player in the cloud industry, has allegedly terminated the employment of more than 3,000 individuals within the electronic healthcare records company Cerner, which it obtained for a substantial sum of $28.4 billion.

According to an Insider report, which relies on accounts from current and former employees, Oracle recently implemented a halt on salary raises and promotions. Additionally, the company reportedly carried out extensive layoffs within the unit, even as recently as this month. These actions took place following the completion of the acquisition in June of last year.

It is important to highlight that the acquisition of Cerner resulted in the addition of approximately 28,000 employees to Oracle.

According to the report released on Wednesday, Oracle has refrained from providing salary increases or promotions. Furthermore, earlier this year, the company made an announcement stating that employees should not anticipate any such advancements until 2023.

The report, citing a former employee, mentioned that the layoffs impacted workers across various teams, including marketing, engineering, accounting, legal, and product.

Meanwhile, the trend of employee layoffs has persisted in major companies across the globe.

According to sources, Business Today learned that Amazon India recently experienced a recent wave of layoffs that affected employees in the Amazon Web Services (AWS) and People Experience and Technology Solutions (PXT) divisions.

A source familiar with the situation mentioned that the ongoing downsizing is a continuation of the layoffs announced by Amazon CEO Andy Jassy in March, which were projected to impact 9,000 employees.

He stated that the current round of layoffs, which involved identifying and issuing pink slips to individuals in Indian teams, was announced back in March.