On Monday, August 1, Oracle Corporation started to lay off employees in the United States. In addition, the corporation has been said to be considering cutting off jobs across the world. This comes after the targeting cost was cut up to almost 1 billion dollars (USD).
Many employees in the workforce globally got to know that their job position was eliminated. However, even though there had been many rumors in the past weeks about the layoff, management had assured employees about job security.
The step comes after the software giant Oracle made further investments in healthcare by incorporating Cloud technology into it. While the layoff started in the San Francisco Bay Area, the United States is not the only part of the world that has been affected by the layoff.
According to a report published by The Information, since Oracle has employees worldwide, countries like Canada, India, and Europe are expected to experience layoffs as well.
Several employees who belong to marketing and customer analytics have been laid off in the process. At the same time, the organization started to turn its focus on the healthcare deal with Cerner.
While Oracle has refrained from commenting on job cut-offs, many employees who have lost their jobs have taken to several social media platforms to voice their opinion on the “restructuring” of the organization.