Report: Oracle cuts workforce by 500

Oracle has sliced approximately 500 positions from its sales and consulting staff businesses in North America, according to a report in The Wall Street Journal.

The positions, which would account for less than 2 percent of Oracle's North American workforce as of November, were cut on Friday, according to the Journal.

Oracle's reported layoffs come at a time when a number of companies across all industry sectors are slashing their workforce by double digits as the economy languishes in a recession.

And while other companies are making staff cuts amid steep declines in their revenues and earnings, Oracle's last quarterly report in November posted a 6 percent increase in second-quarter revenues and a modest 1 percent decline in net profits.

Oracle declined comment on the reported layoffs.

[BuzzCurve]

Oracle always weeds people out early in the year to avoid paying significant year-end commissions and bonuses to sales and marketing people who are on board as of May 31st. These payments, which hit in July, often represent 40% of a professional's annual earnings. Nice.

Look back at Oracle January press during the past ten years and you note only one thing about the Emerald City- its consistent.

[globalist_agenda]

Layoffs are patriotic. Shipping jobs overseas is patriotric. The only way captains of industry can maintain their lifestyle during the Bush Depression is by laying off staff.

[loose_screw]

Agreed. Layoffs = cheap & easy way for management to boost balance sheet numbers...at least temporarily.