Monday, June 19, 2023, Bengaluru, India
The layoff season hasn’t ended, as many companies are still laying off employees and canceling job offers. The recession-hit era has forced companies to take the high road by firing company employees to facilitate cost-cutting and job-cutting.
Following the recession woes, many tech companies globally responded by laying off employees, and it is still going on.
Global tech giant Oracle is conducting another round of layoffs affecting the health sector of Oracle. In a report provided by Insider, Oracle is also planning on canceling some job offers and putting an end to some open positions.
Oracle had recently acquired a high-profile electronic medical records firm Cerner for $28.3 billion. After the acquisition in December 2021, Oracle is looking forward to layoffs in its health division. Oracle’s high-profile acquisition, Cerner, is responsible for maintaining and improving the electronic systems used to store and manage patients’ health information after it secured contracts with the US Department of Veterans Affairs Office.
As Cerner focussed on the electronic part of the process, it was imminent the system may face some problems like every other electronic device. Cerner also faced such issues, and several patients were impacted by Cerner software glitches.
After this, the US Department of Veteran Affairs Office retired the partnership. People have been speculating the ongoing layoffs in Oracle’s health division may be related to the troubled relationship between Cerner and the US Department.
As per the Insider report, Oracle has confirmed to provide severance pay for up to four weeks. The number of years served will also be a factor for the compensation, and each year in service will add one extra week. Oracle has also promised a payout of vacation days. Reports also suggest that Oracle’s planning doesn’t include Indian offices as of now.
There is no update on layoffs in the Indian subcontinent offices. It may be a possibility that workers in India may get affected by this, but nothing is official yet. So far, the US and Europe have been hit by Oracle’s layoff season.
Affected by the layoff, people are showing their grief and concerns on the social media platform LinkedIn. Amongst the affected people is one Vivian Ramos, who worked at Oracle for eight months. The sudden decision has taken her by storm and she is keen to find another opportunity where she is just as happy as she was working at Oracle.
Apart from the affected people, there are colleagues, friends, and well-wishers who wished good luck to the affected employees. Kathy Schoening, a former VP of professional services at Cerner, also took to the platform to share her remarks and concerns for a former Cerner/Oracle health colleague who was affected by the company’s layoff process.
Source – India Today
Disclaimer – We have collected this information from various trustworthy sources on the Internet, and the facts have been checked manually and verified by our In House team.
