Oracle Fires Over 3,000 Workers as Layoffs Continue

In the last several months, internet corporations like Facebook, Google, Amazon, and others have let go of thousands of people. Numerous job layoffs have also been made at organisations like Vodafone and Twitter. However, the hiring season is ongoing as we learn more each week about layoffs at various companies. According to information provided by Business Insider, Oracle is the most recent business to lay off more than 3,000 workers.

Oracle has stopped giving raises or promotions

According to the quoted source by Business Insider, Oracle has likewise stopped giving raises or promotions. The business has also told its staff they should refrain from anticipating further such conditions during the year. This suggests the company may need help since it is making numerous cost-cutting efforts.

Layoffs have been made in several teams

According to information from a former company employee, the referenced source states that layoffs have been made in several teams, including marketing, engineering, accounting, legal, and product. According to the source, Oracle hasn't formally acknowledged layoffs yet, but several employees who are aware of the situation allegedly shared information. It is uncertain if the corporation provides severance pay to the impacted workers to compensate for losing their positions.

Amazon fired 500 workers in the Indian market

In addition, it was recently reported that Amazon fired 500 workers in the Indian market. Just a few weeks ago, the CEO of the computer behemoth, Andy Jassy, revealed that 9,000 more staff would be let go. The employees, who were a part of the Web Services, Human Resources, and Support departments, reportedly received a pink slip, according to people who knew the situation.

Like many other businesses, Amazon has seen a downturn in income generation and growth. The business said that, consequently, it was forced to reduce its employees. Amazon has disclosed the termination of 27,000 employees, and the removal process is ongoing.

"We also refocused our efforts, which eventually necessitated the difficult choice to cut 27,000 corporate roles. Other adjustments over the past few months have reduced our overall costs. Like most leadership teams, we'll continue to assess what we see in our business and make adjustments as necessary. The organisation said in March when it revealed plans for more layoffs.

According to Amazon, the impacted employees will get full salary and benefits for up to 90 days, a larger severance payment, and outplacement support to aid in locating their next position outside the company.