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Oracle has laid off about 30,000 employees globally, including 12,000 in India, citing restructuring. More cuts may follow, with affected staff receiving severance packages after sudden notices.
US-based tech giant Oracle has laid off thousands of employees to cut costs, reported suggested, with more layoffs expected within a month. About 12,000 people were fired by the company in India, while about 30,000 were laid off globally. According to the laid-off employees, the company sent an email stating they were being relieved from duty, without any prior communication.
According to a PTI report citing people impacted by the retrenchment, “In India, around 12,000 employees have been laid off. The company is planning another mass layoff within a month.” LinkedIn posts from laid-off employees suggested that the cuts have affected staff across Oracle Cloud, Health, Sales, Customer Success, and NetSuite.
In the email, the company cited organisational changes as the reason behind firing employees. It added that “because of these changes, a decision has been taken to streamline the operations, and as a result, unfortunately, the position you currently hold will become redundant.”
In its severance package, Oracle has offered 15 days of salary to those employees who have completed a year of service in India. It will also add one month of unpaid wages till the termination date, leave encashment, gratuity based on eligibility and pay for a one-month notice period. The company has also offered a two-month salary as a top-up. The package is available for the employees who voluntarily and amicably resign.
According to the email received by an employee and posted on social media, it read, “We are sharing some difficult news regarding your position. After careful consideration of Oracle's current business needs, we have made the decision to eliminate your role as part of a broader organizational change. As a result, today is your last working day.”
“We are grateful for your dedication, hard work, and the impact you have made during your time with us,” it added. “After signing your termination paperwork, you will be eligible to receive a severance package subject to the terms and conditions of the severance plan. You will receive an email from DocuSign to your Oracle email address with details on your severance and termination date.”
The email also included details of separation-related information and severance agreements and was signed by “Oracle Leadership”.