According to Bloomberg news, Oracle Corp. is cutting jobs in the marketing and US customer experience department. This indicates that the company is pulling back on advertising services and customer analytics.
On Monday, a few workers were informed that the company had eliminated their positions, according to a few people aware of the matter. Amongst the ones that were laid off include the junior sales workers and the division sales director as well. This was informed by one of the former workers familiar with the case. There were rumors of pending cuts that were doing rounds in recent weeks. However, the management stated that the positions were not unsafe.
The customer experience division offers analytics and advertising services, which have for long stayed behind compared to the growth in the rest of Austin, Texas-based firms. At an event last year, Douglas Kehring, the Executive Vice President, revealed that the division has been historically annoying compared to any other unit.
The company has decided to organize the group comprising customer experience again and move on, as per a former senior sales engineering manager, whose position was eliminated, as revealed in a post on LinkedIn. In a separate post, yet another fired manager pointed out the restructuring for the reduction in jobs. Few of the marketing positions were cut as well, as per posts on LinkedIn by a former group vice president and senior manager.
Bloomberg News reports that the reduction in jobs comes as Oracle diverts focus to health care to make its presence felt as it tries to make a place in the competitive market related to cloud technology. At the beginning of this year, Oracle completed a $28.3 billion purchase of Cerner Corp, a digital medical provider, to seek clients in an industry that is slow compared to adapt to cloud-based technology.
However, Oracle was not available for comments. The extent to which job cuts will take place has not been ascertained yet. The shares dropped to less than 1%, closed at $77.44 in New York on Monday, and are down by 11% in the current year.
