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Wednesday, 14 January 2009 17:02

Oracle sheds 500 US jobs

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Less than expected


Oracle has
given 500 workers in North America their marching orders on Friday.

The cut, which amounts to less than 2 percent of its workforce, doesn't come as a surprise, it is smaller than some analysts expected. In fact, the unfortunate 500 could easily fit on Larry Ellison's 138 meter yacht.

As of November, Oracle had 33,526 workers in the North America and 86,657 worldwide. The company seems to be doing quite well, considering the massive job cuts and losses reported by most major IT outfits. In its last quarterly report, Oracle reported a 6 percent increase in revenue and a 1 percent decline in net profits.

The company refused to comment the cut.

More here.

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