Report: Oracle cuts workforce by 500
The company has made staff cuts in its North American sales and consulting areas, according to a report in <i>The Wall Street Journal</i>.
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.