Local news outlets reported that database and cloud computing organization of the United States ‘Oracle’ is preparing to dismiss above 900 people from its China operations. Furthermore, the report said that the firings of employees would mainly come from the development base and local research of Oracle having 1,600 employees. According to the Chinese media, the Beijing location will dismiss 500 staff members, a happening seen as a step towards closing the center completely.
Oracle didn’t confirm or deny the reports, however, stated that as their cloud business matures, they will repetitively balance their resources and restructure their development group to help make sure they provide the best cloud services to their customers in China.
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It was not directly clear why the firm was making the cuts. 21st Century Business Herald, Guangzhou based refer to Oracle’s Asia of restructuring company that will be international. The news website further said that cloud computing workers were among the layoffs’ first batch in China.
Accounts of Asia Pacific for around sixteen percent of the total revenue of the Oracle. Oracle shares closed 1.55 percent less in New York Trading.