Oracle Layoffs: Multinational technology company Oracle recently laid off about 3000 employees worldwide. The reason behind this is said to be increasing dependence on Artificial Intelligence (AI) along with strengthening the company's capacity and restructuring the company. Oracle has about 30,000 employees in India. In the financial year 2024, the company's revenue grew by 20 percent to Rs 20,459 crore.
But the company has now started laying off its employees in India. Under global restructuring, last week, notices have been sent to more than 100 employees of India to lay off their jobs. Hundreds of employees of other teams including Cloud are being fired.
Organizational changes within the company
In a letter sent to the employees, the company said that this layoff is happening due to organizational changes within the company. The letter states that due to these changes, a decision has been taken to streamline the work and as a result your current position will now become redundant. The company is giving employees 15 days' salary for every year of service and medical insurance benefits for up to one year.
Hundreds of employees were fired
This comes after the global layoff done by the company last week, in which hundreds of employees were fired in many of the company's offices. According to reports, more than 3,000 employees were fired worldwide. One fired employee said that people who were associated with the company for 15-20 years were asked to leave the job.
What is the real reason for the layoff?
A source said on the condition of anonymity that we were told that the reason for these layoffs is not performance, but changes in technology and the advent of artificial intelligence and the company wants to reduce costs. Oracle is not the only company that has fired employees. In the last few months, big technology companies like Microsoft, Meta and Salesforce have also fired thousands of employees.
Prakash Kumar Pandey