Oracle Layoffs: US-Based Tech Giant Lays Off ‘Several Hundred’ Employees From Oracle Cloud Infrastructure Division, Says Report
Oracle reportedly laid off "several hundred" of employees from its Oracle Cloud Infrastructure (OCI) division. The Oracle layoffs have also affected other departments like sales.
Austin, November 4: Oracle is conducting another round of layoffs this year that would affect the staff working in the cloud division. Oracle Cloud Infrastructure (OCI), a significant division of US-based Oracle Corporation, would be impacted by the latest round of job cuts. A report said more Oracle layoffs started from 1st November in the company's cloud unit.
According to a report published by Channel Features, the latest round of job cuts has affected unspecified numbers of employees of Oracle; The report mentioned that the OCI unit had lost several hundred people. Over the weekend, the report said several comments surfaced on the internet, hinting at employee layoffs happening at the tech giant. Bosch Layoffs: German Tech Conglomerate To Lay Off 7,000 Employees From ‘Automotive Supply Sector’ Amid Lower Returns on Sales Expected in 2024.
The exact number of OCI layoffs cannot be known, but the report said that "15 people" who were high performers were laid off from the division. The report said that Oracle layoffs affected more than 15 individuals. Oracle Cloud Infrastructure employed around 15,000 people, and the job losses amounted to only 0.1%, said the first person, while another pointed out, "People were gone from Slack in 2-3 hours." He stressed that no people were invited to find other positions.
The report said another worker commented on the Blind platform, known for its professional community of anonymous people. The commentator said that "several hundred " people were laid off in the latest round of Oracle layoffs at the OCI division. The report highlighted that senior directors were also affected. Oracle's marketing people also said that they were laid off. Hiring in India for White-Collar Jobs Surged 10% YoY in October 2024 in Multiple Sectors, Jobs for Freshers Up 6%.
A person said, "Oracle is a giant company...and it does layoffs literally every month" They hit a specific department based on how well it was doing and its overall goals. Previously, Oracle layoffs were reportedly implemented ahead of the 2024 US Elections and after Oracle had made "a big splash" with its hyperscaler partnerships. The report said that Oracle's layoffs were limited to the United States.
(The above story first appeared on LatestLY on Nov 04, 2024 03:41 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).