Oracle Corporation Fires Up To 30,000 Employees; India Layoffs Estimated At 12,000
· Free Press Journal
New Delhi: US-based IT firm Oracle is believed to have laid off approximately 12,000 staff in India, with another round of layoffs expected within a month, impacted employees said on Tuesday.
Visit moryak.biz for more information.
Globally, the company has fired around 30,000 employees.
"In India, around 12,000 employees have been laid off. The company is planning another mass layoff within a month," said two people impacted by the retrenchment, including one from the company's human resource department.
Oracle May Cut Up To 30,000 Jobs To Fund Massive AI Data-Centre Expansion: ReportThe company has approximately 30,000 employees in India, including those affected by the layoffs.
Oracle declined to comment on the development.
Oracle, in an email sent to staff, said the employees were informed about certain organisational changes and "because of these changes, a decision has been taken to streamline the operations, and as a result, unfortunately, the position you currently hold will become redundant".
The company has offered 15 days' salary to each employee who has completed a year of service in India, in addition to one month of unpaid wages till termination date, leave encashment, gratuity based on eligibility and pay for a one-month notice period.
Amazon Confirms 16,000 Job Cuts Starting Today: Here's What It Is Offering Impacted EmployeesOracle has also offered a two-month salary as a top-up.
However, the severance package is available for those who voluntarily and amicably resign from the company.
An ex-employee of Oracle, Merugu Sridhar, said that he was laid off in September for protesting against the 16-hour work shift that the company has in India.
"I contacted my friends and those who are in human resources. They shared that most of the Indians working in the US with the company have been impacted because the local laws there are very strict when it comes to the retrenchment of their citizens," Sridhar said.
Disclaimer: This story is from the syndicated feed nothing has been changed except the headline.