The Largest IT Company In Romania Makes Collective Redundancies. Oracle Wants to Let Go of 184 Employees

Oracle has over 4,300 employees in our country, so the number of fired employees represents 4.2% of the total workforce.

The document talks about the group’s focus on technologies of cloud computingto split the portfolio between two newly formed organizations in its customer relations division.

“According to Oracle’s current assessment, the implementation of the new global strategy at the level of Romania, in addition to the measures to support the improvement of efficiency, will propose the abolition of 184 positions at the local level”, it is stated in the document obtained by the newspaper, which was drawn up in the first working day of the year, on January 3.

The document states that other positions unrelated to the change in strategy are also targeted.

The first 100 people already received the layoff notices on Thursday, January 5, sources inside the group told Libertatea.

According to the Labor Code, the minimum threshold is 30 employees for companies with at least 300 employees.

Business worth over one billion lei and over 4,300 employees

Oracle has over 4,300 employees in our country, grouped in several companies.

Oracle Romania had 2,239 employees at the end of 2021, according to data from the Ministry of Finance, while Oracle Global Services Romania had 2,137.

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In 2021, Oracle Romania had sales of 693.5 million lei and a net profit of 6.4 million lei.

In 2021, Oracle Global Services Romania had total business of 479.8 million lei and a net profit of 10.1 million.

The first restructurings in Romania

It is the first time that layoffs are made at Oracle’s Romanian subsidiaries, according to Libertatea sources.

“Restructuring started last year in the US. It is the first time that layoffs are carried out in Romania. A number of departments were abolished, which overlapped with others”, according to the sources.

Liberty has reached out to Oracle for an official position, but so far we have not heard back.

The Information has written since the summer that Oracle is to lay off thousands of employees globally, aiming for savings of one billion dollars globally.

Oracle recorded total business of $42.4 billion and a net profit of $6.7 billion in the previous financial year.

Oracle has 143,000 employees globally.

Redundancies at Electrolux too

It’s not the only case of mass layoffs in the tech world.

The Swedish manufacturer of household appliances Electrolux announced the dismissal of more than 100 people out of the 740 employees at the factory in Satu Mare, as a result of the loss of orders from Russia and Ukraine, writes Economedia.

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