Source : INDIA TODAY NEWS
Oracle’s latest round of job cuts has reached India, with product engineering teams feared to be among those most affected, according to a Moneycontrol report. The report said layoffs have begun within Oracle India, with employees in product engineering bearing the brunt of the cuts.
Oracle has not formally confirmed the number of employees affected or the extent of the layoffs in India.
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The layoffs started in the US on September 14 and have since reached India. Product engineering teams appear to be facing the largest share of the cuts, while support and consulting functions have seen a relatively smaller impact. Some senior employees at Oracle Financial Services Software (OFSS) have also reportedly been affected as part of the wider global restructuring.
The number of employees impacted in India remains unclear. Earlier estimates suggested that around 3,000 employees in the country could be affected, while internal estimates put the global job cuts at between 7,000 and 10,000.
By September 15, Oracle’s global workforce was estimated to have declined by around 5,000 to 6,000 employees over the weekend, Moneycontrol reported. Employee discussions in India indicate that the scale of the layoffs could change further as the company continues the exercise and more termination notices are issued.
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SOURCE :- TIMES OF INDIA
