Oracle Fires Almost Half of PeopleSoft
After acquiring the company on January 7, Oracle has now fired 5,000 of PeopleSoft’s employees of which there were only 12,000 to begin with.
This comes after Oracle claimed that they would only keep the best employees of each company though they mainly stuck to firing PeopleSoft people.
“Piper Jaffray & Co. analyst Tad Piper believes Oracle still intends to reach its original target of 6,000 layoffs, but expects the company to make the remaining job cuts very gradually.
Oracle began delivering the layoff notices Friday, but some of the affected workers might not learn of their fate for up to 10 more days. The company said it will retain 90 percent of the engineers that develop and support products, but didn’t provide other details about what types of jobs are being cut. Industry analysts expect the layoffs to be concentrated among PeopleSoft’s 11,225 employees. ”
“Oracle’s goal in acquiring PeopleSoft was to pick up the customers and not the technology, so on the whole it is no surprise that Oracle has kept only those PeopleSoft employees needed to keep the customers happy.”
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