News: Oracle's axe falls: 3,000 job cuts hit Cerner after recent acquisition

Strategic HR

Oracle's axe falls: 3,000 job cuts hit Cerner after recent acquisition

In regards to the Oracle layoffs in 2023, the company has also decided to refrain from providing salary raises or promotions during this period.
Oracle's axe falls: 3,000 job cuts hit Cerner after recent acquisition

Amid concerns of a recession, Oracle has joined the wave of layoffs in 2023. According to reports, the prominent cloud company has let go of more than 3,000 employees at its recently acquired firm, Cerner.

As reported by Insider, the impact of Oracle layoffs has been predominantly felt by employees at Cerner, the electronic healthcare records firm. Current and former employees shared their accounts, revealing that Oracle not only halted salary increases and promotions but also resorted to widespread layoffs.

Reportedly, the Oracle layoffs have taken place as recently as this month, following the acquisition of Cerner in June 2022 for $28.4 billion. 

However, when considering the percentage of employees affected, the number of layoffs appears relatively small compared to the significant addition of approximately 28,000 employees through Cerner's acquisition into Oracle.

The company has also chosen not to provide salary raises or promotions. Furthermore, earlier this year, Oracle announced that employees should not anticipate any such increments throughout the entirety of 2023.

These large-scale layoffs at Oracle impacted employees across various departments within the company. This encompassed individuals working in marketing, engineering, accounting, legal, and even product teams.

While Oracle is currently experiencing a wave of mass layoffs, this trend has been prevalent since the second half of 2022. Numerous other tech giants such as Google, Amazon, Meta (formerly Facebook), Cognizant, and more have also announced a series of job cuts. 

These actions are primarily attributed to a global economic downturn and the challenges that companies face while navigating a difficult macroeconomic environment.

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Topics: Strategic HR, #Layoffs, #HRTech, #HRCommunity

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