Part 2/11:
Despite posting an impressive $15.9 billion in Q4 fiscal revenue, representing an 11% year-over-year increase, Oracle has laid off approximately 11,000 employees in March, and now, thousands more across the globe. Notably, in India alone, Oracle is cutting 10% of its staff there, equating to approximately 2,800 workers. Additionally, hundreds of layoffs are occurring in key U.S. locations like San Francisco and Washington State.
This juxtaposition of record profits with mass layoffs raises questions about the underlying causes. Typically, business growth suggests hiring has room to expand; however, Oracle is downsizing, signaling a profound shift in operational priorities.