Oracle to cut 1,000 jobs in Europe
- Author:
- Warwick Ashford
- Posted:
- 09:24 06 Jul 2009
- Topics:
- Databases
Oracle plans to lay off up to 1,000 workers in Europe, despite strong revenue growth compared with other enterprise software suppliers.
According to French unions, Oracle said the planned cuts are due to forecasts that growth in Europe will be slower than expected.
Oracle is one of the last major technology companies to undertake significant layoffs in the economic downturn, joining EMC, Hewlett-Packard, IBM, Intel, Microsoft and SAP.
News of the 1% cut in Oracle's global workforce comes less than a week after Thomas Kurian, SVP of product development at Oracle said operational margins were up 50%.
These margins were enabled by "tight costs controls" that will help maintain Oracle's multi-billion-dollar R&D budget, he said at the launch of Oracle Fusion Middleware 11g in London last week.
News of the staff cuts comes less than three months after Oracle announced a $7.4bn deal to buy Sun Microsystems.
