- Oracle Corp (NYSE:ORCL) slashed jobs in marketing and the U.S. customer experience division, signaling a retreat in customer analytics and advertising services, Bloomberg reports.
- The job reductions coincided with Oracle's focus on health care to win a share in the cloud technology market.
- Junior sales employees and a division sales director were among those let go.
- Also Read: Facebook Employees Anticipate Job Cuts Up To 10% While Company Denies: Report
- Rumors of pending cuts floated across the division, but management had assured regarding the safety of the positions.
- The customer experience division was providing analytics and advertising services long lagged behind the growth of the rest of the software company.
- The company "decided to reorganize" the customer experience group "and move on," read the LinkedIn post of a former senior manager of sales engineering.
- Another post of an ousted manager cited the restructuring for the job reductions.
- Other posts by a former senior manager and group vice president detailed that Oracle cut some marketing positions.
- Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google has declared plans to drive efficiency and improve employee focus while not ruling out the possibility of job cuts.
- Several firms, including Shopify Inc (NYSE: SHOP), Netflix, Inc (NASDAQ: NFLX), and Tesla, Inc (NASDAQ: TSLA), downsized employee strength to beat the current macro uncertainties.
- Price Action: ORCL shares closed lower by 0.51% at $77.45 on Monday.
- Photo via Wikimedia Commons
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