Technology businesses all around the world are still feeling the pressure of looming recession fears, and as a direct response, they are continuing to slash costs significantly and eliminate jobs.
Oracle, a multinational technology company, looks to be carrying out another wave of layoffs, but this time they are hurting employees in its health section. Insider was the first publication to announce that the software giant is pulling back on some job offers and reducing the number of available opportunities.
Oracle’s high-profile acquisition of electronic medical records company Cerner for $28.3 billion in December 2021 led to layoffs in the company’s health sector, which followed shortly after.
The Cerner subsidiary of Oracle was successful in securing contracts with the Veterans Affairs Office of the United States Department of Health and Human Services to do maintenance and improvement work on the electronic systems that are used to store and manage patients’ health information.
Oracle continues to lay off hundreds of employees
However, when numerous patients were affected by Cerner software failures, the United States Department of Health and Human Services decided to terminate the relationship. There is a possibility that Cerner’s difficult cooperation with the United States Department of Veterans is connected to the layoffs in the health sector.
According to the source, Oracle would provide severance compensation equivalent to four weeks, plus an additional week for every year of employment, in addition to a payment of vacation days.
It was anticipated that Oracle would reduce the number of employees working in its offices located in the United States and Europe; however, the firm also employs a significant number of people in India. It is still uncertain how many workers would be directly impacted, and it is also undetermined whether or not workers in India will be impacted.