Oracle lays off hundreds of employees

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Oracle Corp. ORCL,
-0.06%
Laid off hundreds of employees this week as the business software provider prioritizes its healthcare IT services and cloud businesses, according to people familiar with the company’s actions.

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The job cuts principally hit staff at Oracle’s advertising and customer experience group, the people said. The group sells services to help clients analyze data about their customers and target advertising to those customers.

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Oracle’s job cuts come as the company is putting increased emphasis on cloud healthcare services after recently receiving regulatory approval for its $28.3 billion deal for electronic-medical-records company Cerner Corp. They are hitting a unit that has become less central to the company at a time the digital ad market is also in turmoil. The layoffs were previously reported by The Information.

The Austin, Texas-based company is the latest in the growing field of tech companies across an array of activities to slow hiring or cut staff. Last month, Microsoft Corp. MSFT,
-0.26%
said it would be cutting less than 1% of its total workforce of about 181,000 employees.

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Robinhood Markets Inc. HOOD,
-4.41%
this week said it was slashing about 23% of its full-time staff as the online brokerage reacts to a sharp slowdown in customer trading activity. In June, Netflix Inc. NFLX,
-1.36%
said it was laying off about 300 employeesfollowing a round of layoffs of 150 people in the previous month.

An expanded version of this story appears on WSJ.com.

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Credit: www.marketwatch.com /

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