It’s unclear exactly how many employees lost their jobs, with reports ranging from 10,000 to 30,000. The latter would represent almost 19% of the company’s 162,000 workers.
The abrupt communication, combined with reports of immediate system access revocation, has intensified concerns about how the layoffs were handled.
Shares of database and cloud giant Oracle (NYSE: ORCL) plunged as much as 8.1% on Friday, before recovering slightly to a 6.9% decline on the day. Oracle held an analyst-attended Investor Day ...
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