Oracle Layoffs Coming?
Posted on January 31, 2006
Filed Under Uncategorized |
I got this from a source who is usually pretty reliable on all things Oracle. Personally, I’m inclined to think that there is reason to believe this rumor given their financial performance and the redundancy that all of the acquisitions have created.
- No developers are being hired in the U.S., all new hires are in India.
- As many as 7,000 developers in the U.S. could be laid off. The bulk of these layoffs will come from JDE and PSFT ranks as they are no longer eligible for large severence payouts (been over a year since the deal closed). Oracle’s CRM group is also a target, which I suppose isn’t that surprising.
- The bulk of the layoffs will happen in Feb.
- Large group in the Siebel FG&A group will be let go when that acquisition closes. About 16% of the total Siebel workforce will be let go.
- Severence for Siebel employees will be 6 months, Oracle folks will get 1 week for each year of service.
- No layoffs in sales, support, or consulting.
I always take these rumors with a grain of salt but in this case I think there are some fundamental business realities driving Oracle to consider these actions, if it’s true. Lastly, any layoffs of this size are bound to spike the stock I would think… maybe Jason could provide his take.
Technorati Tags: oracle, layoffs, siebel
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My name is Jeff Nolan and I write Venture Chronicles. These are my thoughts on technology, innovation, management, public policy and pretty much anything else that I find interesting.
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