Oracle Laying Off More Employees In US

Oracle has began laying off more US workers this week, according to sources. Employees have confirmed that the database juggernaut Oracle started laying off more of its US personnel on Monday.

According to sources last month, the firm may fire thousands of employees globally, including those in the US, Canada, India, and Europe, in order to slash costs by $1 billion. At Oracle, there are around 130,000 workers.

Oracle's advertising division, which laid off roughly 60 workers last month, had already started the layoff process. Meanwhile, senior leaders like its chief marketing officer, Ariel Kelman, and marketing leader, Juergen Lindner, are anticipated to leave the company.

According to posts on LinkedIn and TheLayoff.com, Oracle CX Marketing is one of the other units that may be getting the axe. At the internet titan, layoffs are not unheard of, but a $1 billion goal would be significant. According to a report released in June, the business incurred restructuring expenditures in its fiscal 2022, which ended in May, totaling $191 million, mostly due to employee severance. It claimed that $431 million was spent on these expenses last year.

The cuts coincide with significant developments at the Austin, Texas-based company: Last month, Oracle received regulatory approval for its $28 billion acquisition of Cerner, a provider of electronic medical records, and is now integrating its roughly 20,000 employees.