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08-05-2019, 12:25 PM
Oracle is laying off more than 900 people in China, reports say
* Oracle is planning to lay off more than 900 people in China, primarily from its local research and development operations of 1,600 employees, Chinese news outlets report.
* The U.S.-based company did not deny or confirm the reports in a statement to CNBC.
* Guangzhou-based 21st Century Business Herald cited Oracle’s Asia Pacific human resources head as saying the departures are the result of company-wide restructuring, which will be global.
Evelyn Cheng
Published 8 May 2019
U.S. database and cloud computing company Oracle is planning to lay off more than 900 people from its China operations, local news outlets reported, citing an internal announcement Tuesday morning.
The dismissals will primarily come from Oracle’s local research and development base of 1,600 employees, the reports said. The Beijing location will terminate 500 staff, a move seen as a step toward shutting down the center completely, according to Chinese media.
Oracle did not deny or confirm the reports, but said in a statement to CNBC that: “As our cloud business grows, we will continually balance our resources and restructure our development group to help ensure we deliver the best cloud services to our customers in China.”
More details in https://www.cnbc.com/2019/05/08/oracle-i...s-say.html
* Oracle is planning to lay off more than 900 people in China, primarily from its local research and development operations of 1,600 employees, Chinese news outlets report.
* The U.S.-based company did not deny or confirm the reports in a statement to CNBC.
* Guangzhou-based 21st Century Business Herald cited Oracle’s Asia Pacific human resources head as saying the departures are the result of company-wide restructuring, which will be global.
Evelyn Cheng
Published 8 May 2019
U.S. database and cloud computing company Oracle is planning to lay off more than 900 people from its China operations, local news outlets reported, citing an internal announcement Tuesday morning.
The dismissals will primarily come from Oracle’s local research and development base of 1,600 employees, the reports said. The Beijing location will terminate 500 staff, a move seen as a step toward shutting down the center completely, according to Chinese media.
Oracle did not deny or confirm the reports, but said in a statement to CNBC that: “As our cloud business grows, we will continually balance our resources and restructure our development group to help ensure we deliver the best cloud services to our customers in China.”
More details in https://www.cnbc.com/2019/05/08/oracle-i...s-say.html
Specuvestor: Asset - Business - Structure.