We’ve been hearing a lot of news recently about economic headwinds causing companies to report poor sales of products and services. Now, it seems that these issues have led Oracle to begin laying off staff in the United States. According to The Information (paywall), thousands of job cuts are on the table. It’s also expected that lay-offs will also affect employees in Canada, India, and Europe in the future.
As things stand now, Oracle has started sacking employees in the United States, including people in the San Francisco Bay Area where the company used to have a HQ. The information about the lay-offs was obtained from a person with direct knowledge of what was going on at the company.
Oracle is one of the first big tech firms to start sacking people, but that may not be the case for very long. Over the weekend, Google said that it was not looking at lay-offs right now, but said that it would be finding ways to become more efficient. Google’s Chief People Office did warn that if things get worse, then jobs could be on the line.
Another company that’s starting to feel the pinch is Meta. Mark Zuckerberg called on the firm to do more with less as it watched profits fall. Facebook said it expects its headcount to grow substantially over the next few quarters but then start to decline, so it’s unclear if people will be fired right now.