SoylentNews
SoylentNews is people
https://soylentnews.org/

martyb writes:

Oracle Swings axe on Cloud Infrastructure Corps Amid Possible Bloodbath at Big Red:

0.4 to 10% of corporate wage slaves could be up for the chop

Oracle has laid off about 40 people in its Cloud Infrastructure (OCI) group in Seattle – and on Friday began notifying about 250 workers at its Redwood City facility and about 100 at its Santa Clara location, both in California, that they will be let go in May.

These US-based layoffs are part of a broad round of job cuts around the globe this month, said to range from 500 to 14,000 at the database giant. The biz employs about 140,000 worldwide.

The Register spoke with an individual affected by the layoff who confirmed that about 40 people in Oracle's cloud group have been let go. The insider, who asked not to be named, recounted being summoned to an office last week with other team members, and being told to leave that afternoon.

The dismissal includes people who now face concerns over whether they can remain in the US because they're no longer employed and are here in the States on work visas. Some will have very little time to find work before having to leave the US.

[...]Despite Oracle's representations that its cloud business is booming, the recent departure of two cloud execs and an aggressive stock buyback plan have raised concerns the database giant is trying to keep its share price high while having mixed cloud results.

Magic 8-Ball says "Outlook Cloudy".

Original Submission

1. "martyb" - https://soylentnews.org/~martyb/
2. "Oracle Swings axe on Cloud Infrastructure Corps Amid Possible Bloodbath at Big Red" - https://www.theregister.co.uk/2019/03/25/oracle_headcount_cut/
3. "representations that its cloud business is booming" - https://www.theregister.co.uk/2019/03/14/oracle_q3_fy2019_stellar/
4. "departure of two cloud execs" - https://www.theregister.co.uk/2019/03/12/amit_zavery_oracle_google_cloud/
5. "aggressive stock buyback plan" - https://www.theregister.co.uk/2019/03/22/oracle_buyback_programme/
6. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=32590

printed from SoylentNews, Oracle Swings Axe on Cloud Infrastructure Corps Amid Possible Bloodbath at Big Red on 2024-04-25 16:22:41