https://www.cio.com/article/4062711/product-changes-likely-as-oracle-faces-an-estimated-10000-more-layoffs-by-december.html
17 replies (most recent on top)
@bg And don't forget, they can always allocate more $$$ to the layoff budget. And future layoffs in NA could be more spartan: no garden leave and less "severance".
10k to go as of end of August (as stated in the article). In September alone so far they cut 6k. After it goes through EMEA on October, target might be met for this year without going back to NA.
Most likely high cost areas such as North America will continue to get hit hard; the intend is to save money to reinvest it in AI infrastructure
Will this hit the US?
"Buckle up!"
Pull the parachute!
@a4 you wish it was close to $1b. You can expect they will spend 400 to 500 per quarter to keep the quarter figures consistent
@ak Switzerland hit as well yesterday 😮
Buckle up!
Full-on reaming. Time for procrastinators to pull together their exit strategies. No more excuses folks.
Hurricane Larry is coming with next round. Close the door, turn off the light and go down to your basement with the food supply.
This article seems correct considering the latest quarterly earnings report and considering how many employees have laid off so far
LE said: “Oracle employees, hold on to you seats , we are on a wild ride!!”
It sounds sooo (psycho)pathetic!
@OP I am sure these will be done just as well organized and respectfully as the last rounds of layoffs.
Gotta clear some additional cap for double CEO bonuses.
@am soon? are the work councils already informed? I do not think so...
@ak yes
Will it hit the EMEA?
“Oracle’s announced $1.6 billion restructuring plan is barely underway, with just $415 million spent as of Aug. 31, which means a significant number of layoffs is still pending.”
Surely that number is now close to a billion or even over given the number of layoffs (over 5k) in September.