Oracle is to make 5,000 redundancies following the completion of its acquisition of rival enterprise software giant PeopleSoft.
Oracle said it planned to retain more than 90% of PeopleSoft product development and product support staff. It said the PeopleSoft development team will finish the development and deployment of PeopleSoft version 8.9, and then begin development of the next upgrade to PeopleSoft products, version 9.0.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
"By retaining the vast majority of PeopleSoft technical staff, Oracle will have the resources to deliver on the development and support commitments we have made to PeopleSoft customers over the past 18 months," said Oracle chief executive officer Larry Ellison.
The total combined Oracle and PeopleSoft workforce will be around 50,000 following the lay-offs, most of which are related to sales and administration at the former PeopleSoft operation.
Detailed information about Oracle's applications organisation, product plans, and "go-to-market strategies" will be presented to customers and partners tomorrow (18 January) at the launch of the combined applications business, said Oracle
Oracle completed its acquisition of PeopleSoft on 7 January, after more than 97% of PeopleSoft shareholders sold their stock.