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Oracle Businesses

Oracle Starts Job Cuts In US 41

Oracle has started to lay off employees in the United States, The Information said on Monday, citing a person with direct knowledge of the matter. Reuters reports: The publication in July reported that Oracle was considering cutting thousands of jobs in its global workforce after targeting cost cuts of up to $1 billion. The company had about 143,000 full-time employees as of May 31, according to its latest annual report. The layoffs at Oracle will affect employees at its offices in the San Francisco Bay Area, Monday's report said, but it did not mention the number of employees affected. The report also said layoffs in Canada, India and parts of Europe were expected in the coming weeks and months.
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Oracle Starts Job Cuts In US

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  • by Anonymous Coward

    They will cut people who make the actual products but cut none of the useless bureaucratic employees.

  • by aergern ( 127031 ) on Monday August 01, 2022 @04:32PM (#62753816)

    and can't get in the way of Ellison getting a few more private jets. The peons' heads must roll. FK Ellison.

    • by Anonymous Coward

      The company had about 143,000 full-time employees as of May 31,

      And once again, there is no explanation of why they need 143,000 people. Why is it that every company seems to have 10 times more people than they need?

      • by splutty ( 43475 )

        141,000 of those are sales people.

      • Licenses don't audit themselves, nor do customers sue themselves for being short on them.
      • And once again, there is no explanation of why they need 143,000 people. Why is it that every company seems to have 10 times more people than they need?

        Because people need to be able to earn a living to participate in the economy. Covid shutdowns, while making exceptions for "essential workers" already demonstrated that most people aren't actually doing jobs that are truly necessary beyond the fact they provide employment. Plus, if these companies didn't have a bunch of unnecessary workers, the fatcats at the top would earn even more obscene salaries than they already do.

        Until you come up with an economic system that can function with most of society sit

      • by dgatwood ( 11270 )

        The company had about 143,000 full-time employees as of May 31,

        And once again, there is no explanation of why they need 143,000 people. Why is it that every company seems to have 10 times more people than they need?

        Oracle has 430,000 customers. Oracle has 13,000 customer support people and 18,000 implementation consultants. That means there are 31,000 people doing direct support for 430,000 customers, or one full-time consultant/customer support person for every 13 customers.

        That also means that means every customer needs to spend at least one third of an employee salary, on average, just to break even. If you figure that the average annual salary is probably well over 150k, and they're only bringing in about $14k

  • by aerogems ( 339274 ) on Monday August 01, 2022 @05:14PM (#62753964)

    They cut a billion out of Ellison's compensation instead? He'd probably barely notice sitting on his private island, unlike the people who are being laid off. Hell, if Musk gets out of buying Twitter, he just saved a couple billion right there!

  • Couldn't happen to a nicer company.
  • doesn't matter if they are needed or not, wall street expects them.
    ellison's wealth is tied up in the stock value. even a few dollars in stock price is worth milions
    and since oracle isnt run efficiently anyway a few thousand people more or less matters not at all.
    this is managing perception

    • Hire, Hire, Hire when job market was tight probably paid top dollar for potential talent. Potential since time will tell if really a good fit for Oracle. Now that orders probably softening reassessing that employment costs. Rank n yank corporate jungle rules. Tech gets headlines but there is extensive pain flowing into economy for most . Inflation erodes wages and now those are even at risk. Food n housing will of course be prioritized but tech upgrades can wait for many.
  • by 93 Escort Wagon ( 326346 ) on Monday August 01, 2022 @05:52PM (#62754068)

    "Fire one million."

  • Amazon cut 100K jobs in the last quarter. Also cutting hiring/staff: Apple, Meta/Facebook, Alphabet/Google, Microsoft, Netflix, Peloton, Carvana, Lyft, Redfin, Robinhood, Rivian, Safesforce, Shutterfly, Shopify, Spotify, Tesla, Tonal, Twitter, Unity, Wayfair... And now, Oracle Good thing we're not in a recession.
  • by sloth jr ( 88200 ) on Monday August 01, 2022 @07:53PM (#62754388)
    One Rich Asshole Called Larry Ellison does not yield $75 million of anything a year. Top management, get bent.
  • And today, Robinhood announced 23% of its staff will be let go.

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