Cloud major Oracle is considering terminating jobs of thousands of workers to save up to $1 billion in cost-cutting measures, The Information reported.
The proposed job cut could disproportionately impact US and Europe-based workers in units such as marketing for software applications that automate customer service and e-commerce functions.
The job cuts were discussed as the company made investments to serve its new client — China-based TikTok owned by ByteDance — which has shifted data of millions of US users on its Cloud servers.
The potential job reduction came as Oracle closed its $28 billion deal to acquire US-based electronic healthcare records firm Cerner. The acquisition brought in about 28,000 Cerner employees, according to the company’s website.
Meanwhile, Oracle Chief Marketing Officer (CMO) Ariel Kelman and Juergen Lindner, senior vice president of marketing for SaaS, are leaving, CRN reported.