Oracle’s Job Cutbacks: Offer Cancellations and Layoffs
Many companies are still laying off employees and withdrawing job offers, thus the layoff season has not yet ended. Companies have been obliged to take the high road in these recession-hit times by letting go of corporate employees in order to promote cost- and job-cutting.
Many tech companies around the world responded to the recession’s problems by laying off employees, and many are still doing so today.
Another round of layoffs affecting Oracle’s health division is being conducted by the multinational computer firm Oracle. According to a report from Insider, Oracle also intends to revoke some job offers and close some available positions.
For $28.3 billion, Oracle just purchased Cerner, a high-profile provider of electronic medical records. Oracle anticipates layoffs in its health sector following the acquisition in December 2021. After securing contracts with the US Department of Veterans Affairs Office. Oracle’s high-profile acquisition Cerner is in charge of maintaining and enhancing the electronic systems used to store and manage patient health information.
It was inevitable that the system would experience some issues. Just like any other electronic equipment, as Cerner concentrated on the electronic component of the process. Such problems also affected Cerner, and software errors with Cerner had an effect on a number of patients.
The partnership was subsequently terminated by the US Department of Veteran Affairs Office. The continuous layoffs in Oracle’s health segment have sparked speculation that they may be connected to Cerner and the US Department’s tumultuous relationship.
Oracle has stated that it will offer up to four weeks of severance pay, as per the Insider article. In addition, the number of years of service will affect the remuneration. Each additional year of service will result in an additional week of pay. Oracle has additionally committed to paying out vacation days. According to reports, Oracle is not currently planning any offices in India.
