Oracle Layoffs Employees| Mass Layoffs| Hiring Freeze
In this video we are going to answer how and why Oracle did layoff in 2023?
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Oracle layoffs 2023 are also here amid recession fears. As per updates, cloud major Oracle has reportedly laid off over 3,000 employees at its firm Cerner which is recently acquired.
According to an Insider report, Oracle layoffs have primarily hit employees at the electronic healthcare records firm Cerner. Based on accounts of current and former employees, the report mentioned that Oracle paused raises and promotions and resorted to these mass layoffs.
These layoffs at Oracle also reportedly happened as recently as this month after Cerner was acquired in June 2022 for $28.4 billion. However, come to see the percentage of layoffs, the figure comes out to be small as Cerner’s acquisition brought in about 28,000 employees into Oracle.
The publication’s report added that as far as Oracle layoffs 2023 are concerned, the company has “not issued raises or granted promotions, and earlier this year, announced that workers shouldn’t expect any through 2023.”
It added that these mass layoffs affected employees across teams at Oracle. It includes employees in marketing, engineering, accounting, legal and even product.
The season of mass layoffs, while has hit Oracle now, has been there since the second half of 2022. Many other tech giants like Google, Amazon, Facebook parent Meta, Cognizant and so on, also announced a spree of job cuts – all due to a global economic downturn and as companies navigate a tough macroeconomic situation.
Which companies did layoff in 2023?
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1. Layoffs at Netflix, Googele, Microsoft, Meta, Apple, Recession
2. IPO vs MNCs
3. Indian IT industry – impact
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6. Unacademy
Laid Off – 600 Employees
This year, one of India’s largest EdTech companies startled everyone by deciding to fire 600 people or 10% of their staff. In April, it was a last-minute choice. According to the layoff justification, the workers’ performances weren’t up to par.
7. Vedantu
Laid Off – 624 Employees
Yes, another well-known Edtech company, Vedantu, has let many staff leave. They fired 424 full-time and contractual staff in only one month. Before that, 200 of its employees were let go this year. According to Vedantu, this is being done to extend their capital runway. Additionally, it is said that the closure of schools and the return of traditional classroom instruction are to blame for the layoffs at Edtech companies.
8. Cars24
Laid Off – 600 Employees
Over 600 workers from Cars24, or 6% of their workforce, bid goodbye to the company. The fired individuals included workers from various departments and positions. The corporation has just said that the layoff is based on employee performance without offering any other explanation. If staff are not giving their all, they are fired every year.
9. Meesho
Laid Off – 150 Employees
Meesho abruptly and unexpectedly sacked 150 workers from the company’s supermarket division in April
10. 10. Better.Com
Laid Off – 3000 Employees
Better.com’s layoffs are likely the most contentious to date. The business has been under fire since firing over 900 employees over a single Zoom conversation last year. They have let approximately 3000 of its staff go this year alone. The corporation claims that the employees’ performance led to the layoff. They have claimed that the employees are let go due to their poor performance and low production levels. Nearly half of the company’s personnel have been let go since December 2021.
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