Oracle is considering letting the axeman loose in the building and implementing cost-cutting measures worth up to $1 billion by August.
The job losses would disproportionately impact thousands of staff mostly in the US and Europe in marketing for software systems that automate customer support and e-commerce functions.
The firm is increasing spending in other areas, which is why the planned layoffs, which are expected to begin as soon as August, are being made.
Two top Oracle executives CMO Ariel Kelman, who arrived from AWS two years ago and has been in charge of the team working with TikTok, and Juergen Lindner, senior vice president of marketing for SaaS, are going.
Talk of cost-cutting and job cuts at Oracle follows a five percent increase in fiscal 2022 sales for the year ended May 31 to $42.44 billion, although its operating income of $10.926 billion was down 28 per cent year over year.
Despite that, Oracle is in a position to spend money on acquisitions.
Last month, the firm completed the purchase of healthcare IT firm Cerner and paid a total of $28.3 billion for the business in order to strengthen its position in the healthcare technology sector.
The acquisition resulted in the addition of around 28,000 new workers to the Oracle workforce.
