Oracle To Cut 1,300 Jobs In Europe – Report
Oracle staff in Europe reportedly called in for meetings on Wednesday where they are warned 1,300 jobs will be cut at a number of locations
Oracle is planning to implement a significant number of job losses in Europe, it has been reported.
Staff in Oracle’s Irish division were reportedly called into a “all-hands” meeting by management on Wednesday afternoon, at which they were told the news, the Irish Times reported.
During the meeting, the Irish staff were told that the American enterprise software giant planned to make cut as many as 1,300 jobs across Europe, with Dublin among the locations affected.
Job losses
It is reported that Oracle’s Amsterdam and Malaga locations also likely to be affected by the job cuts.
According to the Register, the job cull in Europe is consistent with a memo posted to TheLayoff.com, which warned Oracle employees were scheduled to be informed of the cutback on Wednesday, 4 March.
The memo supposedly comes from Oracle’s European Works Council, which is a staff relations entity that large companies operating in the EU have to create.
TheLayoff.com report suggested Oracle decided it needed “to adapt the spending of the company to the revenue situation” during the second quarter of Oracle’s 2020 fiscal year, which ended on 30 November, 2019.
The Irish Times report meanwhile stated that the job cuts will be applied across a number of roles including sales, business development and solutions engineering.
Staff were reportedly told the company is to restructure with employees invited to reapply for other roles.
However, one person who spoke to The Irish Times said he was told he should expect to receive notification in the next week of mandatory 30-days notice along with a compensation offer.
“As our cloud business grows, we will continually balance our resources and restructure our teams to help ensure we have the right people delivering the best cloud products to our customers around the world,” an Oracle spokeswoman told the Irish Times.
Oracle was founded by Larry Ellison, Ed Oates and Bob Milner in 1977, has a market cap of more than $160 billion (€143 billion). The company posted revenues of $39.5 billion last year.
It is now run by Safra Catz, who remains as the sole CEO of Oracle following the death of her co-CEO Mark Hurd in October this year.
Former HP boss Mark Hurd announced to Oracle staff in September last year that he would take a leave of absence from Oracle in order to address medical issues that were not disclosed.
