Layoffs Update: This company has announced mass layoffs. In this, the jobs of hundreds of people will be affected.
Layoff News: The effect of layoffs in American companies is not fading away. Due to rising inflation and rising interest rates, corporates are rapidly cutting down on the number of employees. The retrenchment has once again hit the giant software company Oracle. Just last month, it had fired thousands of employees and now it has got a blow again.
Layoff News: Layoff has once again hit the giant software company Oracle. Oracle has laid off hundreds of employees from its health unit, rescinded job offers and cut open positions. News agency Reuters has given this information quoting sources. Oracle’s health unit ie Cerner, the electronic medical records company, had a layoff just last month. Retrenchment in American companies is not fading away. Due to rising inflation and rising interest rates, corporates are rapidly cutting down on the number of employees.
Why are the layoffs happening and how much will be received in the severance package
According to the information, Kerner has been hired by the US Department of Veterans Affairs. Under this, Kerner has to replace the homemade medical records of this US department with Kerner’s technology. Due to the challenges associated with this work, Oracle has laid off. Employees who are being fired from the company will get four weeks’ salary, additional salary equal to the number of years worked, and paid holidays.
Oracle’s Cerner had a major layoff last month
Oracle laid off a large number of employees in Kerner last month. More than 3 thousand employees were affected by this. According to the information given by a former employee, it affected the marketing, engineering, accounting, legal and product teams. At the same time, the promotion in the corner also stopped and there was no salary hike. Before this retrenchment, there were about 28 thousand employees in Kerner.
What does this company do
Oracle bought Kerner in December 2022 for $2820 million in cash. This company is creating a National Health Records Database, which will have complete records of patients. Regarding data privacy, Oracle’s chairman and chief technology officer, Larry Ellison, says that their data will not be shared with anyone without the patient’s consent.
