Oracle forecasts 33% increase in restructuring costs as new round of layoffs hits
Oracle began a new round of layoffs this week, sending early-morning termination emails to staff for the second time in six months. The latest wave began Monday with affected staff being told, “After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a broader organizational change,” according to BusinessInsider . Termination was…
Oracle initiated another round of layoffs on Monday, notifying employees about job eliminations as part of a strategic organizational change. This follows a previous wave of terminations on March 31 that affected staff in the US, India, Canada, Mexico, and Uruguay. The most recent move has sent termination emails to staff, with compensation details to follow via DocuSign.
Severance terms vary by role and region, with some teams facing double-digit cuts. Employees have expressed frustration on social media, noting they lost access to corporate communication tools before receiving formal notice. Oracle has set aside an additional $700 million for restructuring charges, bringing the year's total to around $2.8 billion.
The company has not disclosed the exact number of employees affected by the latest round of layoffs.
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