Now Reading: Oracle managers told to pick employees to fire before Sept 1
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Oracle managers told to pick employees to fire before Sept 1
Oracle is lining up another round of job cuts this month, with managers told to draw up lists of employees to fire before September 1, Business Insider reports. The deadline marks the…
The Story in Brief
Oracle is lining up another round of job cuts this month, with managers told to draw up lists of employees to fire before September 1, Business Insider reports. The deadline marks the start of Oracle's fiscal second quarter. Reductions on some teams could reach double-digit percentages. The cuts come after Oracle removed 21,000 roles last year, roughly 13% of its workforce. The company's annual filing attributes part of the decline to AI adoption. Indian employees were affected in an earlier March wave of 10,000 layoffs. Oracle's stock is down over 20% this year.
The Indian Opinion
The narrative that AI-driven efficiency justifies mass layoffs ignores that Oracle's stock has dropped 20% this year despite record revenue. The company blames AI adoption for job cuts while borrowing billions to build AI data centres. Investors are suing over debt disclosures. The real test is whether Oracle's shrinking restructuring budget can absorb this round or force a new plan.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
