Layoffs continue in India, this time it is from the tech-giant, Oracle. It hands over pink slips tomore than 3,000 employees, according to d...
Layoffs continue in India, this time it is from the tech-giant, Oracle. It hands over pink slips tomore than 3,000 employees, according to details shared by some of the workers of the firm. The layoffs affected were part of the marketing, engineering, and other teams.
Not only Oracle, the layoffs have also been done by Amazon in the Indian market. Amazon also fired 500 employees in India. Also, Facebook, Google, and other tech companies have fired thousands of their employees in the past few months. Companies such as Vodafone and Twitter have also made massive job cuts.
The layoff period is not over yet, as we continue to hear more layoffs every day from different firms. Oracle is being the latest American multinational company in India that has fired more than 3,000 employees, going by the details shared by Business Insider.
Sources have also reported that Oracle has also put a halt on already issued raises or promotions that were already granted, and has also informed its retained employees that they should not expect anything in similar terms throughout the year. The cost-cutting measures taken clearly explains about the firm's passage through a tough phase in its economic situation.
According to details shared by a former employee of the company, the layoffs have been done in several teams, including accounting, engineering, marketing, product, and legal departments. However, Oracle has kept low key on the layoffs and hasn’t yet officially confirmed about it. Also, there are no details are not available whether the company is giving severance pay to the affected employees to compensate for their loss of job.
Amazon too laid off around 500 employees in the India, as this news came just a few weeks since the tech giant’s CEO Andy Jassy announced the layoff of its 9,000 employees. The affected were part of the Human Resources, Support department and Web Services, who were handed over a pink slip.
Just like many other companies, Amazon has also witnessed a slowdown in revenue and growth, as a result the company is said to have taken the step of reducing its workforce. Recently, Amazon has announced a total layoff of 27,000 employees and process has just begun.
"We also reprioritized where to spend our resources, which ultimately led to the hard decision to eliminate 27,000 corporate roles. There are a number of other changes that we’ve made over the last several months to streamline our overall costs, and like most leadership teams, we’ll continue to evaluate what we’re seeing in our business and proceed adaptively," the company said when it announced another round of layoffs in March.
Unlike Oracle, Amazon has confirmed that the impacted employees will get full pay and benefits for up to 90 days, an additional severance package, and also support for outplacement to help them with finding their next role outside of the company.
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