In its first moves toward cutting costs, software and database giant Oracle has begun laying off some of its workforce, according to company employees. Layoffs have struck the company’s U.S. staff, and it will likely continue to its global workforce in Canada, India, and Europe. The initial focus of the layoffs has been directed at the Oracle Advertising and Customer Experience (CX) division, which helps companies engage with their clients in an informed manner. The company’s workforce currently exceeds 130,000 employees, and it intends to reduce its costs by $1 billion, in part by eliminating more jobs.
Oracle is not alone among big tech companies slowing recruitment or cutting roles; Microsoft, Alphabet, and Apple have all made reductions in new staffing and existing positions. But for Larry Ellison’s corporation, layoffs are one of several changes it has undergone recently. In December 2021, as the company relocated its headquarters from San Francisco to Austin, Texas, it also announced an agreement to acquire healthcare information systems provider Cerner for just over $28 billion. It also landed a contract to store U.S. user data for TikTok,
ByteDance’s popular video-making app.
