5,000 employees at Oracle lose jobs
5,000 employees at Oracle lose jobs
Jan 17, 2004: Oracle Corporation has announced that 5,000 people will be made redundant at the organisation, following the recent integration of PeopleSoft into its 50,000 people workforce.
Oracle will keep 90 percent of the PeopleSoft product development and product support staff, if they want to stay.
They will finish the development and deployment of PeopleSoft version 8.9 first before they will focus on upgrading new PeopleSoft products, such as version 9.0.
Larry Ellison, the CEO of Oracle said: "By retaining the vast majority of PeopleSoft technical staff, Oracle will have the resources to deliver on the development and support commitments we have made to PeopleSoft customers over the last 18 months."
Oracle's staff will support PeopleSoft customers from around the world from now on.The merger between the two companies started on January 7th, following an 18 month battle, which ended in Oracle taking over PeopleSoft for $US10.3 billion.
New details about Oracle's forward strategy and product plans will be announced shortly. Meanwhile the Wall St Journal has reported that ex-PeopleSoft employees have erected a shrine in memory of the firm's resistance to the takeover.
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