Layoffs continue, another tech company sacks more than 3,000 employees

    Layoffs continue, another tech company sacks more than 3,000 employees

    By Ankita Garg: Facebook, Google, Amazon, and other tech companies have fired thousands of employees in the past few months. Companies such as Vodafone and Twitter have also made massive job cuts. But, the layoff season is not over yet as we continue to hear more about layoffs from different firms every week or so. Oracle is the latest company that has fired more than 3,000 employees, according to details shared by Business Insider.

    The cited source also reported that Oracle has also put a halt on issued raises or granted promotions. In addition to this, the company has also informed its employees that they should not expect anything in similar terms throughout the year. All this clearly suggests that the firm might be going through a tough time as it is taking several cost-cutting measures.

    The cited source claims that the layoffs have been done in several teams, including marketing, engineering, accounting, legal, and product, according to details shared by a former employee of the company. So far, Oracle hasn’t yet officially confirmed whether it has done layoffs, but the source claims that various employees who are aware of the matter have revealed details. At the moment, it is unknown whether the company is giving severance pay to the affected employees to compensate for the loss of jobs.

    Besides, it was just reported that Amazon laid off around 500 employees in the Indian market. This news comes just a few weeks after the tech giant’s CEO Andy Jassy announced that 9,000 more employees will be fired. People who are familiar with the matter reported that the workers, who were a part of Web Services, Human Resources and Support department, were handed over a pink slip.

    Like many other companies, Amazon has also been experiencing a slowdown in revenue generation and growth. Hence, the company said that it had to take the step of reducing its workforce. So far, Amazon announced the layoff of 27,000 employees in total and the process of removal is still going on.

    “We also reprioritized where to spend our resources, which ultimately led to the hard decision to eliminate 27,000 corporate roles. There are a number of other changes that we’ve made over the last several months to streamline our overall costs, and like most leadership teams, we’ll continue to evaluate what we’re seeing in our business and proceed adaptively,” the company said when it announced another round of layoffs in March.

    Amazon confirmed that the impacted employees will get full pay and benefits for up to 90 days, an additional severance package, and outplacement support to help with finding their next role outside of the company.

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