Oracle may cut 7,000-10,000 jobs globally in fresh layoffs
What's the story
Oracle is planning another round of layoffs that could affect thousands of employees in India, as per a Moneycontrol report. The tech giant's move comes as part of a broader cost-cutting strategy across teams. The potential job cuts are said to be wider than just restructuring a specific business or function. Teams have been asked to cut their overall budgets, increasing the likelihood of job losses across different functions.
Layoff scale
7,000 to 10,000 employees could be affected globally
While the exact scale of the layoffs remains unclear, internal estimates among employees indicate that as many as 7,000 to 10,000 employees could be affected globally.
The potential impact on Oracle's India workforce remains unclear.
This comes after a major reduction in Oracle's workforce in the past couple of quarters, with the company having officially cut 21,000 jobs over a 12-month period ending May 31.
Uncertainty
Layoffs expected in early to mid-September
The timing of the layoffs remains uncertain, with employees expecting action around early to mid-September.
This uncertainty has heightened anxiety among employees, especially senior staff and those in higher salary brackets.
These individuals are believed to be among those who could be affected by this round of layoffs.
The potential job cuts come as Oracle invests heavily in cloud infrastructure and artificial intelligence, while managing costs and aligning its workforce with changing business priorities.
Lack of clarity
Budget-reduction targets driving layoff process
The layoff process is said to be driven by broader budget-reduction targets, not just restructuring a specific business unit.
Managers and teams have been asked to cut costs, with workforce reductions possibly being part of that exercise.
This has made it difficult for employees to figure out which functions or individuals could be affected.
Even managers are not believed to have complete visibility into the final list of affected employees or when this exercise will happen.
Impact assessment
India's role in Oracle's global operations
Oracle's India operations are a major part of its global workforce, hosting large engineering, cloud, support, and other tech teams.
A broad-based workforce reduction could have a major impact on employees in India.
The potential cuts are being closely monitored due to their timing with Oracle's upcoming quarterly results on September 11.