Oracle is to cost optimize to save $1 billion, in the process laying off thousands

San Francisco: Cloud major Oracle recently considered laying off thousands of workers to save up to $1 billion in cost-cutting measures, the media reported. According to a report in The Information citing sources, the proposed job cuts could “disproportionately impact US and Europe-based workers in units such as marketing for software applications that automate customer service and e-commerce functions”.

The job cuts were discussed as the company made investments to serve its new client — China-based TikTok owned by ByteDance — which has shifted data of millions of US users on its Cloud servers.

“The timing of Oracle’s investments for a Chinese customer while it considers cutting American jobs has irked some managers,” the report said, citing a person with knowledge of the discussions.

The potential layoffs came as Oracle closed its $28 billion acquisition of electronic healthcare records firm Cerner.

The acquisition brought in about 28,000 Cerner employees, according to the company’s website.

”Working together, Cerner and Oracle have the capacity to transform healthcare delivery by providing medical professionals with better information, enabling them to make better treatment decisions resulting in better patient outcomes,” said Larry Ellison, Chairman and Chief Technology Officer, Oracle.

According to CRN, two senior Oracle executives are leaving the company amid potential job cuts.

The departing executives reportedly are Chief Marketing Officer (CMO) Ariel Kelman and Juergen Lindner, senior vice president of marketing for SaaS.

Source: GWFM NEWS