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Oracle laid off hundreds of employees this week as the business software provider prioritizes its healthcare IT services and cloud businesses, according to people familiar with the company’s actions.
The job cuts principally hit staff at Oracle’s advertising and customer experience group, the people said. The group sells services to help clients analyze data about their customers and target advertising to those customers.
NOW ORACLE'S EXITING CALIFORNIA FOR TEXAS. WILL THE LAST ONE IN SILICON VALLEY, PLEASE TURN OUT THE LIGHTS?
Oracle’s job cuts come as the company is putting increased emphasis on cloud healthcare services after recently receiving regulatory approval for its $28.3 billion deal for electronic-medical-records company Cerner Corp. They are hitting a unit that has become less central to the company at a time the digital ad market also is in turmoil. The layoffs were earlier reported by The Information.
The Austin, Texas-based company is the latest in the growing field of tech companies across an array of activities to slow hiring or cut staff. Last month, Microsoft Corp. said it would be cutting less than 1% of its total workforce of about 181,000 employees.
Robinhood Markets Inc. this week said it was slashing about 23% of its full-time staff as the online brokerage reacts to a sharp slowdown in customer trading activity. In June, Netflix Inc. said it was laying off about 300 employees, following a round of layoffs of 150 people in the previous month.
Tesla Inc. has moved to cut white collar staff, and Chief Executive Elon Musk on Thursday said he expected a mild recession that could last around 18 months.
The staffing adjustments come as many tech companies come off a period of supercharged growth that fueled hiring. Sundar Pichai, CEO of Google parent Alphabet Inc. said last week that the economic slowdown provided an opportunity to make necessary business adjustments that are hard to implement when a business is expanding.
Oracle employees were told that they were being laid off because of fiscal year 2023 restructuring and realignment due to new leadership, said laid-off employees. Some layoffs also landed at Cerner as part of the integration of the business into Oracle, one of the people said.