Oracle fires up to 30,000 employees by email at 6am

According to reports, Tech giant Oracle has implemented a huge round of layoffs on Tuesday. Employees would have already received an email at 6 a.m. stating that their position was to be terminated. In total, this would involve up to 30,000 jobs, equivalent to about 18 percent of the global workforce.

The layoffs would affect multiple parts of the business, including Oracle Health, Sales, Cloud, Customer Success, and NetSuite.

According to reports, the dismissal email allegedly stated that Oracle had decided, after an evaluation of the current business needs, to delete functions as part of a broader reorganisation. For the employees involved, this immediately meant the end of their employment.

Employees were told that they would be eligible for severance pay after signing their dismissal documents, depending on the terms of the severance plan.

Oracle doesn't stand on its own. The technology sector has been in a new round of restructuring for some time. Companies are trying to reduce costs, merge departments and focus more sharply on profitability.

In recent months, other major tech companies have also announced solid layoffs. For example, Amazon cut thousands of jobs earlier this year and Meta recently also implemented new layoffs. Block, Jack Dorsey's Bitcoin and payment company, also cut its workforce sharply.

It's not just traditional tech companies that are struggling. The pressure on employment also remains high within the crypto sector.

Previously, Gemini, Crypto.com and the Algorand Foundation, among others, have already cut their workforce considerably this year. This shows that both tech and crypto are still in a phase where companies are looking more closely at costs, growth and efficiency.

The wave of dismissals at Oracle underlines that the reorganization pressure in the technology sector is far from over. Even big and established names continue to intervene. This is bad news for employees, but for investors it is above all a sign that many companies are preparing for an economic environment in which growth is less self-evident than in recent years.

At the same time, of course, a lot of attention is paid to artificial intelligence. This also increasingly leads to the loss of jobs that were previously self-evident.