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Oracle cuts ‘hundreds’ in advertising and customer experience group: report (NYSE:ORCL)

Oracle cuts ‘hundreds’ in advertising and customer experience group: report (NYSE:ORCL)

  • Oracle ( NYSE: ORCL ) has laid off “hundreds” of employees this week, notably in its advertising and customer experiences group, The Wall Street Journal reported .
  • The news outlet, citing people familiar with the matter, noted that the group helps clients by selling services to let them analyze customer data and target advertising.
  • Oracle ( ORCL ) shares fell less than 0.5% to $77.15 in late day trading on Friday.
  • Austin, Texas-based Oracle ( ORCL ) did not immediately respond to a request for comment from Seeking Alpha.
  • The news of the layoffs comes just days after the Larry Ellison-founded Oracle ( ORCL ) was reported to start cutting employees in the U.S., including some in the San Francisco Bay Area.
  • Last month, Oracle ( ORCL ) was reportedly considering “thousands” of layoffs and could cut costs by as much as $1B.
  • It was recently reported that Microsoft ( MSFT ) has reached out to Oracle ( ORCL ) and other cloud service providers to speak to the U.S. government and spread its contracts to curb Amazon’s ( AMZN ) dominance in space .

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Oracle cuts ‘hundreds’ in advertising and customer experience group: report (NYSE:ORCL)

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