Oracle Layoffs Continue: Software Firm Lays Off Hundreds of Employees in Fresh Round of Job Cuts, Cancels Job Offers in Health Unit
In a new round of layoffs, software firm Oracle has fired hundreds of employees. The firm has also rescinded job offers in its health unit.
Mumbai, June 16: Oracle (ORCL.N) has laid off hundreds of employees. Recent reports claim that the software firm has also cut back open positions within its health unit. It even rescinded job offers.
The new layoffs follow the U.S. Department of Veterans Affairs' public dissatisfaction with Cerner's work. The electronic medical records firm was hired to replace its homemade medical records. Chegg Layoffs: US-Based Online Learning Platform To Fire 4% of Its Workforce As AI Risks Business.
The exact number of people impacted by the new job cuts is not confirmed yet. However, this number is likely to be in the hundreds. Previous reports claimed that Oracle layoffs would impact close to 3,000 workers. Oracle has not commented on the situation yet.
Last year, Oracle's health unit acquired electronic medical records firm Cerner for USD 28.3 billion. The new reports claim that the laid-off employees are set to receive severance pay equal to four weeks and one additional week for every year of service. There will also be a payout of vacation days..Happiest Minds Hiring Push: Tech Firm to Hire 1,300 Engineers As Demand for Custom AI Bots Reaches All-time High.
The new layoffs jon the industry-wide trend of cutting workforce in the US. As American companies struggle with inflation and high-interest rates, more layoffs are expected in the near future. It is to be noted that Oracle founder Larry Ellison recently became the 4th richest person in the world.
(The above story first appeared on LatestLY on Jun 16, 2023 09:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).