Oracle to cut 30,000 jobs worldwide despite profits nearly doubling
Business
Oracle is laying off around 30,000 employees worldwide, about 18% of its workforce, even though profits nearly doubled this year.
About 12,000 people in India will be affected, across cloud, engineering, and operations teams.
The move is part of a big company shake-up.
Oracle ties India severance to resignation
In India, those laid off are being offered one month's salary for each year they've worked, but only if they resign and accept Oracle's terms.
US employees get a different package, with pay capped at 26 weeks.
Oracle says its $2.1 billion restructuring plan will help boost its AI infrastructure.
More layoffs may be coming in India soon, leaving many workers unsure about their future.