Oracle Restructures, Laying Off 20% of Workforce in India

Synopsis

Oracle has cut around 10,000 jobs in India, sources told ET. This is part of a global restructuring affecting 30,000 employees. The company is reducing roles in its tech divisions. Oracle Financial Software Services also saw job losses. Employees are concerned about increased workloads. This follows similar tech industry layoffs this year.

Agencies

Larry Ellison, cofounder, Oracle

Oracle has cut about 10,000 jobs in India, sources familiar with the matter told ET, as part of the global cloud computing major’s worldwide restructuring exercise that has reportedly hit 30,000 employees already and could lead to further retrenchments.

“The company is essentially cutting roles on the tech side, since they are not seeing enough returns on their AI-led investments. In India, they have cut around 10,000 people off the payroll,” a source said about Oracle’s developments.

The cuts have also impacted Oracle Financial Software Services (OFSS), with about 1,000 jobs being cut in that unit or about 10% of its headcount, a second source with direct knowledge of the matter said.

Oracle Restructures, Laying Off 20% of Workforce in India

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