Oracle layoffs

2022 - 8 - 2

Oracle's 'widespread' layoff aired on LinkedIn (TechTarget)

An Oracle layoff was discussed on LinkedIn Monday while the vendor stayed silent. More than two dozen employees said that Monday was their last day.

Many of the affected Oracle employees who posted on their LinkedIn profiles wrote heartfelt messages. Oracle's marketing-related side of its business, including customer experience, was cited by LinkedIn posters as an area that saw cuts. Oracle, which is based on Austin, Texas, had not responded to a request for comment by late in the day.

Oracle Reportedly Plans To Lay Off Thousands: Here Are The Major ... (Forbes)

Forbes is tracking the biggest layoffs as companies react to fears of a looming recession.

Bank of America issued a warning Wednesday that “economic momentum has faded,” and a “mild recession” is possible by the end of the year. In an interview with the Washington Post Thursday, U.S. Deputy Secretary of Labor Julie Su said she was optimistic the economy will rebound, citing 9 million jobs created since President Joe Biden took office, and 372,000 new jobs in June. The latest report from the Bureau of Labor Statistics revealed a 9.1% spike in inflation from June, 2021, with gas, housing and food making up the largest increases. Many experts warned the U.S. may be headed toward recession following reports the economy contracted 1.6% in the first quarter of the year. The Federal Reserve’s announcement in June to raise interest rates by 75 basis points, its largest rate hike in 28 years, reignited fears of economic turmoil and recession. California-based mortgage lender loanDepot announced plans to lay off 2,000 workers by the end of the year, bringing its 2022 layoffs to 4,800 — more than half of the company’s 8,500 employees — amid a precipitous downturn in the housing market that’s “contracted sharply and abruptly,” CEO Frank Martell said in a statement.

Oracle makes a round of layoffs in the US: reports (Fox Business)

Oracle underwent initiated massive layoffs earlier this week to their United States customer experience division in order to cut costs.

The initial report of layoffs in July stated that eliminations of jobs would also take place in Oracle's divisions in India, Canada, and Europe, although the exact timeline remains unclear. "Working together, Cerner and Oracle have the capability to transform healthcare delivery by providing medical professionals with a new generation of healthcare information systems," Oracle's Chairman Larry Ellison said in a statement at the time. Bloomberg noted that marketing positions were also cut as a part of Oracle's job reductions.

Layoffs reported at Oracle may hit Burlington hub (Philadelphia Business Journal)

Oracle Corp., which does not break out headcount by state, has about 48000 full-time U.S. employees.

The Oracle layoffs happened about a week after e-commerce giant Shopify Inc. (NYSE: SHOP) announced plans to lay off roughly 10% of its global workforce. A total of 38,000 people work in sales and marketing. Don’t know the total scope, but I’ve been here about seven years."

Reports: Oracle makes a round of layoffs in the US (Computerworld)

The layoffs have mostly hit the customer experience group and are part of a planned exercise to cut around $1 billion in expenditures according to reports ...

Oracle is currently making a big push towards both cloud and healthcare, which will affect employees in core apps product departments that are seen as cash cows,” Park said. Several Oracle employees took to LinkedIn this week to announce that they had been let go. In July, The Information had reported that Oracle was looking to trim jobs in an effort to cut expenditure by $1 billion following the $28.3 billion acquisition of healthcare data specialist Cerner that closed in the second week of June.

Oracle job cuts hit US (Becker's Hospital Review)

Oracle has begun cutting U. S. jobs as part of a worldwide workforce reduction, according to Bloomberg.

Bloomberg reported the customer experience division provides analytics and advertising services to Oracle, and some marketing positions were cut. Chad Cain, a former senior manager of sales engineering at Oracle, posted on LinkedIn that the company has restructured its customer experience organization and plans to "move on from several solutions." I hazard to say at Cerner we're not just eager for goodwill we're desperate for it.

Oracle cuts 'thousands' of jobs in ailing CX division (Tech Monitor)

Oracle is reported to have cut thousands of jobs in its CX business as the company seeks to save $1bn in costs.

Last week, it was reported that Oracle’s prices are expected to rise by 8% in the US, in line with inflation. A recent Institute of Directors poll of business leaders found that the majority are pessimistic about the economic outlook and likely to slash investments, including in IT. CCS Insight’s own research has found that the proportion of IT managers increasing their budget by 15% or more has fallen from 35% in 2021 to 20% this year. And while the tech giants have mostly posted revenue growth in their most recent financial reports, “every single one of them has some degree of hiring freeze or layoffs in place,” she said. The cuts are the latest in a string of tech industry layoffs. Staff have taken to LinkedIn and Twitter to discuss the layoffs, with almost all citing “organisational restructuring” as the reason their jobs were cut.