Oracle implement major workforce reductions in ongoing layoffs.
The wave of layoffs across the globe shows no signs of abating as yet another company makes drastic cuts. With a staggering number, over 3,000 employees have been let go from Oracle, resulting in a substantial savings of approximately $28.4 billion. As reported by IANS, this decision has also halted salary increases and promotions for former employees.
Oracle, a prominent player in the cloud industry, is responsible for this massive layoff, targeting electronic healthcare records firm Cerner. The affected workforce, which amounts to more than 3,000 individuals, was previously part of the 28,000-strong team at Cerner. Oracle has made it clear that workers should not anticipate any promotions until 2023.
The teams bearing the brunt of these layoffs include marketing, engineering, accounting, legal, and product divisions. Oracle, with its ambitious plans to develop a national health records database, aims to ensure the anonymity of patient data unless individuals explicitly consent to information sharing. Larry Ellison, the chairman and chief technology officer of Oracle, emphasizes this critical privacy aspect.
Oracle, in its capacity as a digital health company, stores and manages digital information utilized by Cerner hospitals and health systems. This enables medical professionals to deliver enhanced healthcare services to individual patients and communities. Furthermore, Oracle is actively introducing various services to alleviate people's problems.
Meanwhile, the trend of workforce reduction extends to India, as Amazon reportedly terminates 500 employees across multiple business sectors. In March, Amazon disclosed plans to eliminate nearly 9,000 jobs from its cloud services, advertising, and Twitch units, as concerns about a recession diminished.
The relentless stream of layoffs in the corporate realm continues unabated, affecting companies of diverse profiles. The economic landscape remains volatile, and the repercussions of these decisions on employees and industries are far-reaching.
Read more: GoFirst airlines to resume operations, overcoming bankruptcy challenges in Indian aviation
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "layoffs, Layoffs News, Oracle, Layoffs in India, Layoffs Update News, Employees, jobs cut")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}