Oracle has initiated significant job cuts, impacting 30,000 employees worldwide, with 12,000 roles terminated in India. This restructuring is part of a broader strategy as the company continues to invest heavily in artificial intelligence and automation tools.
Indian employees affected by these layoffs are set to receive severance packages that include 15 days’ salary for each year of service, along with additional benefits. In contrast, US employees are offered a more generous severance structure, starting with four weeks’ salary for the first year of service and increasing to a maximum of 26 weeks after several years.
For those in India, the total compensation could reach up to six months of salary, which includes notice period pay and an ex-gratia amount. Additionally, employees may receive health insurance coverage valued at around Rs 20,000, and unused leave balances along with gratuity payments will be processed separately.
The layoffs have affected employees across various job categories, including engineering, architecture, operations, and program management. Notably, performance was not necessarily a factor in determining which employees were let go, as stated by a professional familiar with the situation: “The individuals affected were not let go because of anything they did or didn’t do.”
Details remain unconfirmed, as the company has not officially disclosed the total number of job cuts nor the specifics of the severance packages. This uncertainty adds to the anxiety among the workforce, as many await clarity on their future.
