What happened: US tech giant Oracle will lay off about 1,000 Chinese employees. A human resources representative announced the decision Tuesday in an internal meeting, according to Chinese media citing some company sources.
Specifically, there’s speculation that Oracle’s China Research and Development Center would be closed soon. The Beijing branch of the center accounts for at least half of the cuts and further job reductions are expected in July, the media reports added. The center also has facilities in Shenzhen, Nanjing and Dalian.
Why it’s important:
The latest round of job cuts in China represents the latest in a series of redundancy plans by Oracle across different business groups over the years. It fired more than 100 employees in its advertising software division, Data Cloud, amid a reshuffling in July. This was followed by 10% worldwide cuts as part of its plan to shift to cloud.
Amazon dealt Oracle another blow last year when the US e-commerce giant announced its plans to be entirely off Oracle’s database software by early 2020, CNBC reported at the time citing a source. The layoffs come after Larry Ellison, CEO of the company, characterized China as a big threat to the US during an interview with Fox News in October.
Original news is from Technode.