Oracle has started laying off more US employees this week, sources confirmed

The giant database Oracle has announced that it will lay off employees in the US Sources It is possible that it will eliminate thousands of jobs across the globe according to news reports.

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The company is likely to cut thousands of workers across the world which includes India, Canada, US, Canada, India and Europe in order to cut expenses by $1.5 billion

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The layoffs have already started in the Oracle advertising department that eliminated about 60 employees in the last month, Insider reported

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In the meantime, top executives such as CMO Ariel Kelman and marketing director Juergen Lindner have been scheduled to quit the company..

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The possibility of layoffs is not uncommon for the company, but the goal of $1 billion is still a significant amount. In its fiscal year 2022,

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which was completed in May the company spent $191 million on costs for restructuring which was mainly associated with employee severance, it reported in June

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The reductions come amid major changes for the Austin-based business: Oracle last month obtained approval from the regulators

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to complete the $28 billion acquisition of medical records company Cerner and is in the process of accepting its employees of 20,000.

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The company that makes databases announced higher-than-expected profits in June and recorded an increase of 5% in revenue from the previous year and cloud-related revenues in the range of $2.9 billion.

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Oracle Cloud Infrastructure, its cloud platform, remains in comparison to AWS, Microsoft, and Google Cloud in overall market share.

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The workers from Canada, India, and Europe might be next.

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