Oracle cuts 30,000 jobs; 12,000 in India alone
What's the story
Oracle has begun a major round of layoffs, affecting nearly 30,000 employees worldwide. Out of these job cuts, around 12,000 are from India alone. The news comes as a shock to many workers who were greeted with early morning termination emails and no prior warning. The layoffs are part of an AI-driven restructuring process at the company.
Online chatter
Job cuts witnessed across Oracle's computing business
The layoffs have been reported across Oracle's computing business in different regions, including India and Mexico. Although the company hasn't officially confirmed the extent of these job cuts, social media platforms such as Blind, Reddit, and X are buzzing with reports of mass layoffs. An X user claimed that out of 20 members in their team, six had been asked to leave.
Company response
Employees informed about organizational changes via email
In an internal communication, Oracle informed employees about the organizational changes and their impact on job positions. The company said, because of these changes, a decision has been taken to streamline the operations, and as a result, unfortunately, the position you currently hold will become redundant. The abrupt nature of these layoffs has left many employees shocked and without any prior HR discussions or manager calls.
Compensation details
Severance package offered to affected employees
Oracle has reportedly offered a severance package to the affected employees. The package includes 15 days' salary for every year of service, one month's notice pay, leave encashment, gratuity based on eligibility and a two-month salary top-up. However, it is said that this compensation is only available for those who resign voluntarily.
Strategic realignment
Layoffs reflect a broader trend in the tech industry
The layoffs come as Oracle increases its investments in artificial intelligence (AI) infrastructure and data centers. This indicates a larger strategic realignment of resources within the company. Similar cost-cutting measures have been seen across the tech industry, with companies like Meta and Amazon laying off thousands to prioritize AI spending.